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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
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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".

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Saudi PIF, Elm Sign Agreement for Elm to Acquire Thiqah

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF, Elm Sign Agreement for Elm to Acquire Thiqah

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

The Public Investment Fund (PIF) and Elm, a leading digital solutions company, have signed a share sale and purchase agreement for Elm to acquire Thiqah Business Services Company – a firm specializing in smart technology solutions for business services – in a deal valued at $907 million (SAR3.4 billion).

Completion is expected once regulatory approvals are obtained and certain conditions are satisfied under the agreement.

According to a PIF statement, the transaction will further support a thriving local information and communication technologies (ICT) ecosystem and contribute to PIF’s strategy which aligns with the Vision 2030 aim of using digital transformation to create the high-skills jobs of the future and further grow the Saudi economy. The deal will enhance the growth of the ICT sector, drive innovation, and localize technologies and knowledge by strengthening Elm to lead the sector at the national level, maximizing the value chain by providing a wide range of ICT products, services and devices.

The ICT sector is among PIF’s strategic priority investment sectors, being a key enabler of other key sectors, including entertainment, financial services, healthcare, transport and logistics, and utilities and renewables, the statement said.

“PIF is committed to enabling the creation of national champions which contribute to driving the development and growth of the Saudi economy. PIF’s sale of Thiqah to Elm will contribute to enhancing the vital role of the ICT sector and will strengthen efforts to localize technology and drive innovation,” Head of Technology and Media, MENA Investments, at PIF Shahd Attar said.

CEO of Elm Mohammad Abdulaziz Alomair said: “This is an important transaction for Elm, as it enhances integration, rationalizes spending, increases profitability, and provides qualitative advantages for both parties and the market.”

“The combined integrated entity will be better able to create advanced national smart services to serve market requirements and clients’ needs. It will also contribute to facilitating innovative operations and capabilities to develop products in the business field with cost advantages while achieving economies of scale,” he added.