In a groundbreaking move for Saudi Arabia's electric vehicle (EV) infrastructure, EVIQ, the Electric Vehicle Infrastructure Company, has launched a state-of-the-art research and development (R&D) facility in Riyadh. This pioneering venture, a joint effort between the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC), marks the first of its kind in the region, setting a new standard for EV charger technology.
The R&D center is designed to test a wide range of chargers and related software, ensuring that every product deployed meets the highest standards of quality, safety, and efficiency. This initiative underscores EVIQ's commitment to fostering a reliable and advanced EV ecosystem in Saudi Arabia, aligning with the Kingdom’s Vision 2030 sustainability goals.
The company, with PIF holding a 75% stake and SEC 25%, aims to revolutionize the local automotive ecosystem by deploying best-in-class EV fast-charging infrastructure across the Kingdom.
"This facility is a cornerstone in our strategy to support the Kingdom’s Vision 2030," said Omar Al-Madhi, Co-Head of MENA Direct Investments at PIF. "Through our partnership with SEC, we will accelerate synergies across the EV supply chain, driving economic growth and diversification, and positioning Saudi Arabia as a leader in the electrified era of the automotive industry."
The facility will play a crucial role in EVIQ's strategy to deploy 5,000 chargers across 1,000 strategic locations by 2030, revolutionizing the Kingdom’s EV landscape. By focusing on top-quality charger deployment and ensuring compatibility with a range of EVs, EVIQ is paving the way for a sustainable and technologically advanced future in Saudi Arabia. This bold step not only reflects EVIQ’s dedication to innovation but also serves as a catalyst for the Kingdom's growing EV market, driving the nation closer to its ambitious Vision 2030 goals.
