Chinese automaker BYD’s plans to open seven new showrooms in the Kingdom by mid-2026 has caught the attention of CNBC (watch, runtime 05:47), with KraneShares Senior Investment Strategist Anthony Sassine highlighting the Kingdom’s EV market potential, supported by stronger ties between Saudi and China.

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Big plans for ٍSaudi: BYD opened three showrooms last year and aims to sell some 5-6k units in Saudi Arabia this year, while advancing the manufacturing of EVs and battery production capacity in the Kingdom, Sassine added.

Ripe for picking: Chinese companies are expanding to the GCC region and “trying to be first in this market” on the back of stronger bilateral relations and the rising number of high-net worth individuals, Sassine explained.

BUT- There are “a lot more reforms and policies” yet to be implemented by our government to reach the 30% EV-adoption goal set by 2030. For now, the focus is on developing infrastructure for localizing EV manufacturing in the Kingdom.

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