{"id":79961,"date":"2023-10-10T01:00:18","date_gmt":"2023-10-10T01:00:18","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/"},"modified":"2023-10-10T01:00:18","modified_gmt":"2023-10-10T01:00:18","slug":"saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/","title":{"rendered":"Saudi Arabia expands fast-charging infrastructure presence with the launch of Electric Vehicle Infrastructure Company"},"content":{"rendered":"

<\/a>KSA is ramping up its EV charging infrastructure: <\/strong>Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC) have launched the Electric Vehicle Infrastructure Company to expand fast-charging infrastructure across the kingdom, according to a statement<\/a>. PIF will own a majority 75% stake in the newly-formed company while SEC will hold the remaining 25%<\/a>, the statement notes.<\/p>\n

What we know: <\/strong>The new company will set up over 5k fast chargers in over 1k locations in cities across the country, according to the statement. It will also explore collaboration with EV companies by providing required charging stations to meet future demand and \u201cpromote private sector participation in the development of its network of charging stations and support the localization of R&D and manufacturing of technologically advanced materials.\u201d<\/p>\n

KSA is all in for EVs: <\/strong>EV maker Lucid Group \u2014 which is backed by the PIF \u2014 inaugurated its first overseas production facility<\/a> late last month in Jeddah\u2019s King Abdullah Economic City after obtaining the operating license for its manufacturing unit. The Advanced Manufacturing Plant will contribute to Saudi Arabia\u2019s target of having EVs make up 30% of new car sales in the kingdom by 2030. Earlier this year, the kingdom\u2019s first EV brand Ceer<\/a> \u2014 a JV between PIF and Taiwanese multinational electronics contract manufacturer Hon Hai Precision Industry Company (Foxconn) \u2014 received a manufacturing license<\/a> from KSA\u2019s Ministry of Industry and Mineral Resources last June for its planned EV production plant in KAEC.<\/p>\n","protected":false},"excerpt":{"rendered":"

KSA is ramping up its EV charging infrastructure: Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC) have launched the Electric Vehicle Infrastructure Company to expand fast-charging infrastructure across the kingdom, according to a statement. PIF will own a majority 75% stake in the newly-formed company while SEC […]<\/p>\n","protected":false},"author":1,"featured_media":79962,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[103],"tags":[102,11,64,293,159],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-vehicles","tag-electric-vehicles","tag-enterpriseclimate","tag-evs","tag-pif","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"2db29355-7532-4e33-a2c8-668568d738ad","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1742.jpg","photo_position":"above","related_issue":[79949],"teaser":"","voice_url":""},"yoast_head":"\nSaudi Arabia expands fast-charging infrastructure presence with the launch of Electric Vehicle Infrastructure Company - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi Arabia expands fast-charging infrastructure presence with the launch of Electric Vehicle Infrastructure Company\" \/>\n<meta property=\"og:description\" content=\"KSA is ramping up its EV charging infrastructure: Saudi Arabia\u2019s sovereign wealth fund the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC) have launched the Electric Vehicle Infrastructure Company to expand fast-charging infrastructure across the kingdom, according to a statement. PIF will own a majority 75% stake in the newly-formed company while SEC […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-10T01:00:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1742.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Saudi Arabia expands fast-charging infrastructure presence with the launch of Electric Vehicle Infrastructure Company\",\"datePublished\":\"2023-10-10T01:00:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/\"},\"wordCount\":260,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1742.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ELECTRIC VEHICLES\",\"EnterpriseClimate\",\"EVs\",\"PIF\",\"Saudi Arabia\"],\"articleSection\":[\"ELECTRIC VEHICLES\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2023\/10\/10\/saudi-arabia-expands-fast-charging-infrastructure-presence-with-the-launch-of-electric-vehicle-infrastructure-company\/\",\"name\":\"Saudi Arabia expands fast-charging infrastructure presence with the launch of Electric Vehicle Infrastructure Company - 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