Aramco, BYD Partner to Develop New Energy Vehicle Technologies

Aramco logo/File Photo

Saudi Aramco and BYD, a leading manufacturer of new energy vehicles and power batteries, have agreed to explore closer collaboration on new energy vehicle technologies, Aramco announced in a press release on Monday.
A joint development agreement signed by Saudi Aramco Technologies Company (SATC), a wholly owned subsidiary of Aramco, and BYD aims to foster the development of innovative technologies that enhance efficiency and environmental performance.
According to the release, this collaboration leverages the research and development capabilities of two leading global companies to achieve breakthroughs in new energy vehicles, SPA reported.
Aramco Senior Vice President of Technology Oversight and Coordination Ali A. Al-Meshari stated: "The collaboration between SATC and BYD aims to support improvements and builds on Aramco’s extensive research and development of new energy solutions. Aramco is exploring several ways to optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts. This work stems from our belief that practical energy transition requires multiple approaches, and we are delighted to collaborate with BYD on this journey."
Senior Vice President of BYD Luo Hongbin said: "We expect that SATC and our cutting-edge R&D capabilities in new energy vehicles will break the boundaries of geography and mindset to incubate solutions that combine highly efficient performance with a lower carbon footprint."