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A subsidiary of Saudi Arabia’s sovereign fund signs an agreement with EVIQ to accelerate the construction of electric vehicle charging stations

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International Energy Network has learned that the real estate developer ROSHN Group, a subsidiary of the Saudi Public Investment Fund (PIF), and the Electric Vehicle Infrastructure Company (EVIQ) have signed an agreement to provide tram charging infrastructure for communities affiliated to the former to accelerate the development of electric vehicles in Saudi Arabia. Tram application to promote sustainable development. Under the agreement, ROSHN and EVIQ will work to evaluate and develop tram-related infrastructure solutions. EVIQ is planning projects such as destination charging stations, city center charging stations and intercity charging stations to ensure that tram charging infrastructure is widely covered in Saudi Arabia.

Last year, the Saudi Public Investment Fund (PIF) and the Saudi Electricity Company (SEC) jointly announced that they would cooperate to establish an electric vehicle infrastructure company. PIF plans to hold 75% of the shares and SEC will hold 25% (PIF is also the controlling shareholder of the Saudi Electricity Company) . The company aims to provide best-in-class electric vehicle fast charging infrastructure across Saudi Arabia, further unlocking the local automotive ecosystem and accelerating the adoption of electric vehicles. The company plans to install more than 5,000 charging piles in cities across Saudi Arabia and on the roads connecting these cities by 2030, covering 1,000+ locations in accordance with applicable regulations and standards.

EVIQ, an electric vehicle infrastructure company, announced the opening of a Riyadh R&D center. The center will be used to test a series of chargers and software to prepare for the launch of subsequent charging stations. It will also serve as an R&D center to develop charger expertise to adapt to Changing needs of the Saudi electric vehicle market.

Susie

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Post time: Jan-21-2024