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Saudi Global Ports and SANY Heavy Industry Sign Contract to Manufacture, Supply 80 Electric Trucks

The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat
The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat
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Saudi Global Ports and SANY Heavy Industry Sign Contract to Manufacture, Supply 80 Electric Trucks

The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat
The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials. Asharq Al-Awsat

The Saudi Ports Authority (Mawani) announced the signing of a contract between the Saudi Global Ports (SGP) and SANY Heavy Industry, the leading Chinese manufacturer of heavy equipment, to supply King Abdulaziz Port in Dammam with 80 electric trucks.

It is the largest single contract signed by SANY to manufacture and supply electric trucks, making King Abdulaziz Port the largest port in the Middle East that owns this number of electric trucks.

The contract was signed by SGP chief executive Edward Tah and SANY Marine chief executive Jeff Fu in the presence of other officials on the sidelines of "Transport Logistic China 2024."

Mawani President Omar bin Talal Hariri said that the signing of the contract contributes to the development of King Abdulaziz Port in Dammam to be a flexible and sustainable logistics center and a leading model of operational excellence and logistical efficiency.

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Saudi Aramco to Buy 10% Stake in Renault-Geely Thermal Engines Venture

The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
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Saudi Aramco to Buy 10% Stake in Renault-Geely Thermal Engines Venture

The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo
The logo of Saudi Aramco is pictured outside Khurais, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File Photo

Saudi Aramco will buy a 10% stake in a thermal engines joint venture between French carmaker Renault and Chinese automaker Geely, the companies said on Friday, valuing the business at 7.4 billion euros ($7.93 billion).
Geely and Renault will own around 45% each of the powertrain venture, called Horse Powertrain, which will supply gasoline engines, hybrid systems and gearboxes for thermal vehicles.

“Aramco’s investment is expected to directly contribute to the development and deployment of affordable, efficient, and lower-carbon emission internal combustion engines globally,” said Aramco Executive Vice President of Technology & Innovation Ahmad O. Al Khowaiter.

“With Geely and Renault, we plan to leverage our collective expertise and resources to support ground-breaking advances in both engine and fuel technologies,” he added.

Renault CEO Luca de Meo described the deal in a statement as creating a "dream team" that would "reinvent" the future of combustion-engine and hybrid technologies.

Geely Holding CEO Daniel Li said that mitigating greenhouse gas emissions will require global synergies, multi-faceted technological solutions, and the sharing of expertise.

“With Aramco’s support and expertise in fuel technologies, HORSE Powertrain Limited further cements its role as a leader in pioneering low-carbon and carbon-free fuel technology solutions such as methanol and hydrogen.”