Saudi Aramco Technologies Company (SATC), a wholly-owned subsidiary of a Saudi-listed oil major, and BYD signed a joint development agreement to develop new technologies to improve the efficiency and environmental performance of EVs, the two companies said in a joint statement on Monday.

Aramco is exploring a number of ways to potentially optimise transport efficiency, from lower-carbon fuels to advanced powertrain concepts, said Ali A. Al-Meshari, Senior Vice President of Technology Oversight & Coordination, Aramco. 

In February, Saudi Electricity Company (SEC) and BYD Energy Storage signed a contract to build the world’s largest grid-scale energy storage project in the Kingdom. 

Under the pact, BYD will supply 12.5 gigawatt-hours (GWh) of Battery Energy Storage System (BESS) capacity to the Saudi-listed SEC. 

​(Editing by Anoop Menon)

(anoop.menon@lseg.com)

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