Real estate developer ROSHN Group, owned by the state-backed Public Investment Fund (PIF) of Saudi Arabia, has partnered with the homegrown Electric Vehicle Infrastructure Company (EVIQ), to accelerate the adoption of electric vehicles (EVs) across the kingdom.

EVIQ is set to launch Riyadh’s first public high speed EV chargers at ROSHN Front, an upcoming mixed-use lifestyle retail and F&B destination.

The Memorandum of Understanding (MoU), signed between ROSHN and EVIQ, will allow for the development of direct-current infrastructure solutions for EVs within residential communities and commercial properties developed by the real estate firm spanning the kingdom.

In recent years, Saudi Arabia has been heavily developing its e-mobility landscape as a part of its Vision 2030 directive to increase the number of EVs on the roads of Riyadh to 30% of all vehicles and produce 500,000 EVs in the kingdom over the same timeframe.

(Writing by Bindu Rai, editing by Seban Scaria)

bindu.rai@lseg.com