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Industry Minister: Saudi Arabia Aims to Become Global Player in EV Industry

SPA
SPA
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Industry Minister: Saudi Arabia Aims to Become Global Player in EV Industry

SPA
SPA

Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products, including electric batteries, said Minister of Industry and Mineral Resources Bandar Al-Khorayef.

The minister's remarks came during the inauguration of Lucid Motor's first EV manufacturing plant in Saudi Arabia, located in King Abdullah Economic City (KAEC) in Rabigh governorate.

The inauguration of Lucid Motor’s plant confirms the sound implementation of the National Industrial Strategy (NIS) and its seriousness in establishing a flexible, competitive, and sustainable industrial economy led by the private sector, SPA quoted Al-Khorayef saying.

The EV industry is one of 12 strategic industrial sectors covered by the NIS to boost the growth of industry across the Kingdom, the minister added.

"The mission today is not just about building another vehicle manufacturing facility, but rather betting on the future through technology and innovation and striving for the Kingdom to become a global player in the industry of EV and related products."

He also stressed that the inauguration of Lucid Motor's EV manufacturing plant "confirms the Kingdom’s commitment to the investment in clean energy and the green economy.

The Saudi Minister said that the Kingdom will witness a vibrant ecosystem for investment in various sectors.

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Taiwan Holds First Tariff Talks with United States

A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)
A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)
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20
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Taiwan Holds First Tariff Talks with United States

A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)
A plane takes off above the skyline including Taipei 101 (C) in Taipei on April 11, 2025. (AFP)

Taiwan officials held their first tariff talks with US officials on Friday, with both sides looking forward to further discussions soon, the island's government said on Saturday.

While Taiwan, a major semiconductor producer facing tariffs of 32%, complained they were unfair, it moved quickly to lay out proposals with the United States, offering a zero-tariff regime and greater purchases and investments in the country.

In a statement, Taiwan's Office of Trade Negotiations said its officials held a video conference with US officials whom it did not identify.

The talks focused on reciprocal tariffs between Taiwan and the United States, non-tariff barriers to trade, and a number of other economic and trade issues, including export controls, it added.

"Both sides look forward to conducting follow-up consultations ... in the near future and jointly building a strong and stable economic and trade relationship between Taiwan and the United States," it said.

The Office of the United States Trade Representative did not immediately respond to a request for comment sent outside of Washington work hours.

On Wednesday, US President Donald Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries, while further ramping up pressure on China.

Home to the world's largest contract chipmaker, TSMC, Taiwan has long sought a free trade deal with the United States, its most important international backer and arms supplier, even though the two have no formal diplomatic ties.

Taiwan faces increasing military and political pressure from its giant neighbor China, which views the democratically governed island as its own territory.

Taiwan's government rejects those claims, saying only the island's people can decide their future.