EVIQ Launches State-of-the-Art R&D Facility for Electric Vehicle Chargers in Saudi Arabia

The new facility will be used for testing a spectrum of chargers and software. SPA
The new facility will be used for testing a spectrum of chargers and software. SPA
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EVIQ Launches State-of-the-Art R&D Facility for Electric Vehicle Chargers in Saudi Arabia

The new facility will be used for testing a spectrum of chargers and software. SPA
The new facility will be used for testing a spectrum of chargers and software. SPA

EVIQ, the Electric Vehicle Infrastructure Company, a newly launched joint venture between the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC), said on Sunday it opened a research and development (R&D) facility in Riyadh that is a first-of-its-kind in the region.

The new facility will be used for testing a spectrum of chargers and software, to ensure the deployment of best-in-class equipment and related software, reinforcing EVIQ's commitment to quality, efficiency, and driving the evolution in the EV sector across the Kingdom of Saudi Arabia, said an EVIQ statement.

It will also give EV drivers in Saudi Arabia the confidence that EVIQ chargers have been thoroughly tested to the highest quality and safety standards for operating in Saudi Arabia.

"The launch of our R&D facility is a testament to our commitment to quality and sustainable development of the Kingdom’s EV infrastructure. Our state-of-the-art facility ensures that EVIQ remains at the cutting-edge of EV charging solution development, bringing users the optimal charging experience, and ensuring that every EV driver in Saudi Arabia has access to reliable and efficient charging solutions,” said EVIQ CEO Mohammad Bakr Gazzaz.

“This facility is a cornerstone in our strategy to support the Kingdom’s Vision 2030. By focusing on top-quality charger deployment and ensuring compatibility with a range of EVs, we are paving the way for the growth of a sustainable and advanced EV ecosystem in Saudi Arabia, further supporting the wider Saudi objectives.”
According to the statement, the new R&D facility plays a crucial role in EVIQ's mission to "deliver the highest quality EV charging solutions by thoroughly testing various types of chargers".

The facility is not just a testament to EVIQ's commitment to innovation, but also a significant step toward enhancing charger efficiency, reliability and compatibility, said the statement, adding that it serves as a hub for developing the expertise and knowledge in charger technology that will support the evolving needs of the electric vehicle market in Saudi Arabia.

The statement added that in alignment with Saudi Arabia's sustainability goals, "EVIQ is on track to deploy 5,000 chargers across 1,000 strategic locations by 2030. This ambitious plan highlights EVIQ's dedication to catalyzing the EV ecosystem in Saudi Arabia, heralding a new era of sustainable mobility".



OPEC Sticks to Global Oil Demand Forecasts, Reports Output Jump

FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
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OPEC Sticks to Global Oil Demand Forecasts, Reports Output Jump

FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: OPEC logo is seen in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

OPEC on Wednesday kept its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption, and reported that Kazahkstan led a jump in February OPEC+ output despite an ongoing production pact.

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 1.45 million barrels per day (bpd) in 2025 and by 1.43 million bpd in 2026. Both forecasts were unchanged from last month.

"Trade concerns are expected to contribute to volatility as trade policies continue to be unveiled. However, the global economy is expected to adjust," OPEC said in the report.

OPEC also published figures showing a 363,000 bpd increase in production by the wider OPEC+ group in February, led by a jump in Kazakhstan which is lagging in its adherence to OPEC+ output quotas.

According to the OPEC data, Kazakhstan produced 1.767 million barrels per day (bpd) of oil in February, up from 1.570 million bpd in January.
It has promised to cut the output and compensate for overproduction.
However, it is boosting oil production at the Chevron-led Tengiz oilfield, the country's largest.
Russia's crude oil output edged down by 0.04% to 8.973 million barrels per day (bpd) in February from 8.977 million bpd January, according to OPEC.
It was slightly below Russia's output quota of 8.98 million bpd under a pact among OPEC+ producers.
Russia's quota is expected to rise to 9.004 mln bpd from April with OPEC+' overall gradual increase of output.

Deputy Prime Minister Alexander Novak said last week that the OPEC+ group agreed to start increasing oil production from April, but could reverse the decision afterward if there are market imbalances.