Global Bechtel to Establish Transport System Connecting NEOM Cities

NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)
NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)
TT
20

Global Bechtel to Establish Transport System Connecting NEOM Cities

NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)
NEOM Co. has awarded a contract to Bechtel for executive project management work on the development of the base infrastructure for NEOM cities. (NEOM Twitter)

Saudi Arabia’s NEOM Co. has awarded a contract to US-based Bechtel for executive project management work on the development of the base infrastructure for NEOM cities, as the Saudi Vision 2030 giga-project advances work to create the world’s leading destination to attract talent and investment.

Bechtel was selected to oversee and create resource-efficient utilities and a highly advanced transport system to connect NEOM’s cognitive cities.

Commenting on the award, NEOM CEO Nadhmi Al Nasr said: “Built from the ground up as a model of future living, NEOM will be one of the largest, most sophisticated and advanced infrastructure projects ever undertaken globally, and we are delighted to have a major industry leader like Bechtel on board to work with us to realize our ambitions.”

Bechtel Chairman & CEO, Brendan Bechtel said in a statement: “NEOM is one of the most complex projects in living memory and we are proud to be part of it. The vision for a futuristic, innovative and sustainable ecosystem is unique and bold, and we believe NEOM will change the way new cities are developed by future generations. We have helped our customers shape the Kingdom’s history with many key projects and we are honored to be a partner in building its future.”

Last July, NEOM awarded a contract to develop the digital infrastructure in its cities, through building and operating a 5G network with the Saudi Telecom Group.

NEOM has also entered into a partnership with Air Products and ACWA Power, worth $5 billion, to establish the world’s largest project to produce hydrogen and ammonia in a clean and environmentally friendly manner, which will be ready for operation in 2025.

Cognitive cities are technically enhanced and digitally sustainable societies that benefit from data in a greater proportion than smart cities, in order to provide exceptional livelihoods that improve the quality of life of residents and support business sectors.



China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
TT
20

China’s Car Sales Rise in May, but Price Wars Cloud Outlook

 Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)
Amukelani Masungi, a worker, cleans the floor next to BYD vehicles on display at a BYD dealership in Sandton, South Africa, June 5, 2025. (Reuters)

China's car sales rose for a fourth consecutive month in May, but slower increases across major automakers highlighted concerns over aggressive price competition in the world’s largest auto market.

Sales grew 13.9% from a year earlier to 1.96 million vehicles last month, slowing from 14.8% growth in April, China Passenger Car Association (CPCA) data showed on Monday.

Sales of electric vehicles and hybrids rose 28.2% year on year, down from a 33.9% gain in April.

Leading EV maker BYD reported decelerating annual passenger vehicle sales growth to 14.1% last month from April's 19.4% despite a new round of subsidies and incentives late in the month.

Other major automakers, including Geely and Chery, also reported slower growth as the industry’s attention shifted to price wars that have raised concern over a potential market shakeout.

Authorities have warned that such price wars threaten the industry's long-term health, with the sentiments echoed by leading manufacturers such as BYD, Chery and Xiaomi.

The CPCA's secretary-general, Cui Dongshu, said the industry should focus on quality and technology innovation and that leading automakers should lower their sales targets for this year.

CPCA data also showed that car exports rebounded, rising 13.5% year on year in May, reversing a 2% decline in April.