RIYADH: The installation of 16 electric vehicle chargers at the Roshn Waterfront in Jeddah Corniche is expected to be completed by the end of this year, according to Tony Mazzone, managing director of Electromin.

In an interview with Arab News during the EV Auto Show in Riyadh on Sept. 17, Mazzone announced that the company has signed two partnership agreements aimed at enhancing the sector’s infrastructure. The first agreement involves collaboration with Roshn Waterfront to develop EV charging facilities, ensuring that visitors can conveniently charge their vehicles while enjoying the corniche.

“Across the 4-km strip on the corniche, we’re looking to deploy 16 chargers in eight different locations. The intention is to support those that already visit the corniche and obviously more and more transition to EV, but they’ve got a place to charge while they enjoy the experiences there. The intention is not to go there to charge, the intention to go enjoy what you do, but while you’re there, you can charge at the same time,” Mazzone told Arab News.

He added that the installations are expected to be completed by the end of this year, at which point they will be accessible to the public and featured on the Electromin mobile application.

The second partnership involves an agreement with Solutions Valley, the commercial arm of Saudi Electricity Co., aimed at supporting the development of EV infrastructure.

The app

“All of our public chargers are all on (an) application. So, the application allows you to plan your routes. You can see those chargers. It’s all live. The key thing is to get over the anxiety of people that have an electric car to say, I have a car, where do I charge?” he said.

“We have over 110 chargers now, live locations. We have 26 in Jeddah. We have around 30 in Riyadh, specifically in the two main cities. And we’ll be adding to that by the end of Q4 of this year,” he added.

Expansion

As a private entity, Electromin’s expansion strategy is driven by the increasing demand for electric vehicle infrastructure. Mazzone noted that deploying chargers and establishing the necessary infrastructure requires substantial capital investment, making the commercial aspect a primary focus.

“In terms of the deployment plan, we need to align it with demand. We understand that EV adoption is currently progressing slowly, but there will be a ramp-up. It’s essential to deploy infrastructure as demand dictates,” he explained.

Additionally, the company is entering the rapid transit sector by installing and operating a fully electric bus system in Makkah, set to launch in the first quarter of next year.

Mass adoption

Mazzone stressed the necessity of accelerating EV adoption in Saudi Arabia, underscoring the vital role of government support.

“I think what’s critical to Saudi Arabia right now is to accelerate the adoption. We need support from the government, incentives to subsidize some of the costs to support the consumer in the purchase of electric vehicles. And we know in other countries or other regions around the world, the mass adoption has happened on the back and the strength of those incentives and legislation changes,” he explained. 

He identified two primary barriers to widespread EV adoption in the region: price and convenience. “For potential EV drivers, there are two hurdles to overcome: the cost and the convenience of charging,” Mazzone stated.

Addressing current challenges, he highlighted that electric vehicles are generally more expensive than traditional cars and that insufficient charging infrastructure poses significant obstacles. “Right now, if you buy an electric car, it will cost you more than a traditional vehicle, and the lack of charging stations makes it more complicated,” he said.

“For the mass adoption to occur, you need to get price parity and you need to make sure that when people transition, they can do it seamlessly. So, our idea, our ideals, make sure that when people drive, like a traditional petrol car, they don’t think about where they fuel, they drive without any anxiety. And I think the infrastructure needs to be in place to support that adoption. It needs to happen in that order,” he added.   

RIYADH: An Italian business federation representing 7,000 companies has announced plans to increase Italian investments in Saudi Arabia, focusing on opportunities aligned with Vision 2030.

According to the Saudi Press Agency, the federation includes major Italian firms across key economic sectors. This announcement was made during the Saudi-Italian Business Forum, held at the Saudi Chambers Federation. The event featured the newly appointed Italian Ambassador to Saudi Arabia, Carlo Baldocchi, along with representatives from over 140 companies and officials from both nations.

Attilio Fontana, president of the Lombardy Regional Government, emphasized that Lombardy, which has a gross domestic product exceeding $444 billion, is a crucial part of the Italian economy and offers significant opportunities for international investors. He noted that the visit aims to enhance the role of Italian expertise in Saudi investments, scientific collaboration, and cultural exchange, while committing to provide incentives for Saudi investors.

Kamel Al-Majid, chairman of the Saudi-Italian Business Council, highlighted the growth in bilateral trade between Saudi Arabia and Italy, which is now approaching SR38 billion ($10.1 billion). Lombardy has made substantial contributions through key exports such as machinery, chemicals, and automotive products.

He also pointed out that cooperation in logistics, infrastructure development, and digital technologies could create significant opportunities for Italian investors, while Italian expertise in construction can support major projects in Saudi Arabia.

Lombardy, a financial and industrial powerhouse, hosts the Italian stock exchange and attracts global investments in sectors like automotive, aerospace, life sciences, biotechnology, artificial intelligence, and advanced technologies.

Saudi Arabia is actively enhancing its efforts to attract foreign investments across various sectors. The recent update to its investment law aligns with international best practices to create a more favorable business environment.

Announced in August, the new legislation replaces the Foreign Investment Law of 2000, aiming to ensure equal treatment for domestic and foreign investors. At the launch of the new law, Saudi Investment Minister Khalid Al-Falih stated that the legislation “reaffirms Saudi Arabia’s commitment to creating a welcoming and secure environment for investors.”

In January, Hassan Al-Huwaizi, president of the Federation of Saudi Chambers of Commerce and Industry, announced that the number of Saudi foreign business councils had reached 70, including those with major global economic players such as China, the US, Japan, and the UK, as well as Italy, France, and the UAE.

The recent reestablishment of the business council with Canada in July is the latest step in a plan led by the federation to strengthen the Kingdom’s international trade relationships as part of the Vision 2030 economic diversification strategy.