DHAHRAN, Saudi Arabia – Aramco, one of the world’s leading integrated energy and chemicals companies, and BYD, a leading manufacturer of new energy vehicles and power batteries, have agreed to explore closer collaboration in new energy vehicle technologies.

A Joint Development Agreement signed by Saudi Aramco Technologies Company (SATC), Aramco’s wholly-owned subsidiary, and BYD aims to foster the development of innovative technologies that enhance efficiency and environmental performance. This collaboration leverages the research and development teams of two leading global companies, with the aim of achieving new energy vehicle breakthroughs.

Ali A. Al-Meshari, Aramco Senior Vice President of Technology Oversight & Coordination, said: “The collaboration between SATC and BYD aims to support energy efficiency improvements, and it builds on Aramco’s extensive research and development of new energy solutions. Aramco is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts. This work stems from our belief that multiple approaches are necessary to support a practical energy transition and we are delighted to collaborate with BYD on this journey.”

Luo Hongbin, Senior Vice President of BYD, said: “At the crossroads of technological innovation and environmental protection, BYD always believes that true breakthroughs come from openness and collaboration. We expect that SATC and our cutting-edge R&D capabilities in new energy vehicles will break the boundaries of geography and mindset to incubate solutions that combine highly-efficient performance with a lower carbon footprint. We are confident that this will support the world’s efforts to address the climate challenge.”

-Ends-

Aramco Contact Information
Media Relations: media.inquiries@aramco.com
 @aramco 

About Aramco

As one of the world’s leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world. https://www.aramco.com

BYD Contact Information
Address: No.3009, BYD Road, Pingshan District, Shenzhen, China

About BYD

BYD is a high-tech company devoted to technological innovations for a better life. BYD was founded in November 1994, and after 30 years of fast growth, the company has established over 30 industrial parks worldwide and has played a significant role in industries related to electronics, automobiles, new energy and rail transit. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions. BYD is listed on the Hong Kong and Shenzhen Stock Exchanges, with revenue and market capitalization each exceeding RMB 100 billion. https://www.bydglobal.com/cn

Disclaimer

The press release contains forward-looking statements. All statements other than statements relating to historical or current facts included in the press release are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its capital expenditures and investments, major projects, upstream and downstream performance, including relative to peers. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “goal,” “may,” “anticipate,” “estimate,” “plan,” “project,” “can have,” “likely,” “should,” “could,” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance, or achievements expressed or implied by such forward-looking statements, including the following factors: global supply, demand and price fluctuations of oil, gas and petrochemicals; global economic conditions; competition in the industries in which Saudi Aramco operates; climate change concerns, weather conditions and related impacts on the global demand for hydrocarbons and hydrocarbon-based products; risks related to Saudi Aramco’s ability to successfully meet its ESG targets, including its failure to fully meet its GHG emissions reduction targets by 2050; conditions affecting the transportation of products; operational risk and hazards common in the oil and gas, refining and petrochemicals industries; the cyclical nature of the oil and gas, refining and petrochemicals industries; political and social instability and unrest and actual or potential armed conflicts in the MENA region and other areas; natural disasters and public health pandemics or epidemics; the management of Saudi Aramco’s growth; the management of the Company’s subsidiaries, joint operations, joint ventures, associates and entities in which it holds a minority interest; Saudi Aramco’s exposure to inflation, interest rate risk and foreign exchange risk; risks related to operating in a regulated industry and changes to oil, gas, environmental or other regulations that impact the industries in which Saudi Aramco operates; legal proceedings, international trade matters, and other disputes or agreements; and other risks and uncertainties that could cause actual results to differ from the forward-looking statements in this press release, as set forth in the Company’s latest periodic reports filed with the Saudi Exchange. For additional information on the potential risks and uncertainties that could cause actual results to differ from the results predicted please see the Company’s latest periodic reports filed with the Saudi Exchange. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. The information contained in the press release, including but not limited to forward-looking statements, applies only as of the date of this press release and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the press release, including any financial data or forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law or regulation. No person should construe the press release as financial, tax or investment advice. Undue reliance should not be placed on the forward-looking statements.