EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals

The show will serves as a platform for knowledge exchange, focusing on advancements in battery technology, charging infrastructure, and regulatory developments. File
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Updated 16 September 2024
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EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals

  • Exhibition is a central event for the Kingdom’s expanding EV ecosystem
  • Attendees will have the chance to explore a variety of EVs, charging solutions, and green technologies

RIYADH: The rapidly evolving transport sector in Saudi Arabia is set for a significant boost with the return of the EV Auto Show to Riyadh, taking place from Sept. 17 to 19. 

Hosted at the Riyadh International Convention and Exhibition Center, this three-day event aligns with Saudi Arabia’s Vision 2030, emphasizing its commitment to electric vehicles and sustainable technology.

The exhibition is a central event for the Kingdom’s expanding EV ecosystem. It brings together key stakeholders, including automotive manufacturers, charging solution providers, policymakers, and consumers, to discuss the future of mobility in the region.

Attendees will have the chance to explore a variety of EVs, charging solutions, and green technologies. The show will feature interactive seminars and panel discussions, allowing participants to engage with industry experts and innovators.

As Saudi Arabia aims to manufacture and export over 150,000 electric cars by 2026, such events are vital for advancing the shift toward clean technology and sustainable energy sources. 

The show also serves as a platform for knowledge exchange, focusing on advancements in battery technology, charging infrastructure, and regulatory developments. 

This exchange is crucial for overcoming current challenges and accelerating the Kingdom’s transition to electric mobility.

Shift in perception

Saudi Arabia’s EV market is growing, fueled by government initiatives, public-private partnerships, and increasing consumer interest.

Ravi Ravichandran, president of Ford Middle East, told Arab News: “The electric vehicles market in Saudi Arabia is undergoing rapid expansion, largely driven by the Kingdom’s Vision 2030, which seeks to diversify the economy beyond its traditional reliance on hydrocarbons.”

He noted a rise in consumer interest in EVs, citing a recent survey that shows 40 percent of Saudi consumers are considering purchasing one within the next 12 months. This reflects a growing shift away from traditional internal combustion engine vehicles.

Among those surveyed, hybrid vehicles were the most popular choice, followed by plug-in hybrids and pure battery EVs. 




Ravi Ravichandran, president of Ford Middle East. Supplied

Ravichandran added that nearly one third of Saudis are already exploring the EV market. He also highlighted that 81 percent of respondents reported an improved view of electric vehicles over the past year, with many now perceiving them as sleek, enjoyable to drive, and technologically advanced. This indicates a positive shift in public perception.

Infrastructure development

A significant challenge in promoting EV adoption is the development of a comprehensive charging infrastructure. 

The Ford executive highlighted that “range anxiety” remains a significant issue for consumers who worry about the availability of charging stations for long trips or daily commutes. 

To address this, he added: “The Saudi government, along with regional stakeholders, is actively working to build a robust charging network.”

Electromin is a key player in expanding the charging infrastructure across the Kingdom.

Mark Notkin, chief innovation officer at Electromin, told Arab News: “The widespread implementation of fast charging services across Riyadh hinges on several key factors including governmental incentives, EV adoption rates, regulatory approvals, and partnerships with the private sector.” 

These factors will influence the timeline for making fast charging facilities widely available.

Electromin has already installed over 100 chargers across Saudi Arabia, all operated by the company and accessible via its app. The company is focusing on increasing the availability of fast charging services in high-traffic areas, including major malls in Riyadh and Jeddah.




Mark Notkin, chief innovation officer at Electromin. Supplied

Localization and talent development

An essential component of developing a sustainable EV ecosystem is the localization of talent in the infrastructure sector. 

Vision 2030 is driving companies to invest in training and hiring local professionals. 

Notkin said: “The localization rate of Saudi employees in the EV infrastructure sector is rising, driven by Vision 2030. Companies are increasingly training and hiring local talent in roles such as project management, marketing, and operations.”

This growing localization is expected to continue as the sector expands, contributing to job creation and fostering technological expertise in the Kingdom.

Ravichandran also highlighted the job creation potential, and said: “The expansion of EV manufacturing, charging infrastructure, and related services will generate significant new job opportunities, playing a crucial role in Saudi Arabia’s economic diversification. 

“As more local talent is employed in the EV sector, this will in turn foster the transfer of advanced technologies, particularly in battery production, charging solutions, and software development.”

Creating awareness 

Increasing consumer awareness about the benefits of EVs is essential for widespread adoption. 

However, misconceptions continue to pose barriers. Ravichandran said: “Nearly one-third of Saudis mistakenly believe EV batteries cannot be recycled, half think EVs require routine oil changes, and one-quarter incorrectly assume that EVs still need fuel to operate.” 

These misconceptions highlight the need for “targeted education to inform the public about the realities of owning and maintaining an electric vehicle.”

Efforts are underway to enhance consumer understanding of the long-term cost savings associated with EVs.  “Consumers need to understand the long-term cost savings, such as reduced fuel consumption and lower maintenance expenses,” said Ravichandran, adding: “Unlike traditional internal combustion engine vehicles, EVs have fewer components to maintain, making them a more cost-effective and reliable option over time.”

Future outlook

Looking ahead, the Saudi EV market is expected to undergo significant evolution over the next five to 10 years, driven by key developments and innovations.

Ravichandran believes that a “pivotal focus will be on accelerating the rollout of advanced charging infrastructure, with particular emphasis on integrating cutting-edge technologies to enhance convenience and efficiency for customers.”

He also highlighted advancements in local manufacturing capabilities, predicting that innovations in EV production processes and materials will likely drive down costs and increase competitiveness.


Oil Updates — crude jumps after OPEC+ sticks to same output hike in July versus June

Updated 02 June 2025
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Oil Updates — crude jumps after OPEC+ sticks to same output hike in July versus June

SINGAPORE: Oil prices rebounded more than $1 a barrel on Monday after producer group OPEC+ decided to increase output in July by the same amount as it did in each of the prior two months, which came as a relief to those who expected a bigger increase.

Brent crude futures climbed $1.46, or 2.33 percent, to $64.24 a barrel by 9:26 a.m. Saudi time after settling 0.9 percent lower on Friday. US West Texas Intermediate crude was at $62.45 a barrel, up $1.66, or 2.73 percent, following a 0.3 percent decline in the previous session.

Both contracts were down more than 1 percent last week.

The Organization of the Petroleum Exporting Countries and their allies decided on Saturday to raise output by 411,000 barrels per day in July, the third month the group known as OPEC+ increased by the same amount, as it looks to wrestle back market share and punish over-producers.

The group had been expected to discuss a bigger production hike.

“Had they gone through with a surprise larger amount, then Monday’s price open would have been pretty ugly indeed,” analyst Harry Tchilinguirian of Onyx Capital Group wrote on LinkedIn.

Oil traders said the 411,000-bpd output hike had already been priced into Brent and WTI futures.

“The headline motive has centered on punishing OPEC+ members like Iraq and Kazakhstan that have persistently produced above their pledged quotas,” said the Commonwealth Bank of Australia in a note on Monday.

Kazakhstan has informed OPEC that it does not intend to reduce its oil production, according to a Thursday report by Russia’s Interfax news agency citing Kazakhstan’s deputy energy minister.

Looking ahead, Goldman Sachs analysts anticipate OPEC+ will implement a final 410,000 bpd production increase in August.

“Relatively tight spot oil fundamentals, beats in hard global activity data, and seasonal summer support to oil demand suggest that the expected demand slowdown is unlikely to be sharp enough to stop raising production when deciding on August production levels on July 6th,” the bank said in a note dated Sunday.

Meanwhile, low levels of US fuel inventories have stoked supply jitters ahead of expectations for an above-average hurricane season, analysts said.

“More encouraging was a huge spike in gasoline implied demand going into what’s considered the start of the US driving season,” ANZ analysts said in a note, adding that the gain of nearly 1 million bpd was the third-highest weekly increase in the last three years.

Traders are also closely watching the impact of lower prices on US crude production which hit an all-time high of 13.49 million bpd in March.

Last week, the number of operating oil rigs in the US fell for a fifth week, down four to 461, the lowest since November 2021, Baker Hughes said in its weekly report on Friday.

 


New center positions Saudi Arabia for advanced manufacturing leadership

Updated 01 June 2025
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New center positions Saudi Arabia for advanced manufacturing leadership

  • Integrated initiatives aim to enhance industrial productivity and efficiency
  • Center brings together programs and initiatives that enable the adoption of modern manufacturing technologies

RIYADH: The global industrial sector is witnessing a radical transformation toward adopting Fourth Industrial Revolution technologies, prompting countries to reconsider traditional manufacturing methods and adopt smart solutions that include automation, artificial intelligence, robotics, and data-driven systems to improve production efficiency and reduce operational costs. 

According to the Saudi Press Agency, the Kingdom is not only keeping pace with the global industrial transformation but also aims to lead it through strategic initiatives and specialized programs that promote smart industry practices and accelerate the adoption of advanced manufacturing technologies.

This will enhance the competitiveness of Saudi Arabia’s industrial sector both regionally and globally, aligning with the goals of Vision 2030 and the National Industrial Strategy to position the Kingdom as a leading industrial power, one that supports global supply chains and exports high-tech products globally.

The Ministry of Industry and Mineral Resources is undertaking this ambitious transformation by establishing an integrated and comprehensive national system to enhance advanced manufacturing, according to SPA. 

It has launched the Advanced Manufacturing and Production Center, which brings together all programs and initiatives that enable the adoption of modern manufacturing technologies and stimulate smart and innovative industrial solutions. 

This initiative is in cooperation with various government entities related to the technology, research, and innovation sectors and in partnership with several global leaders in industrial technology. 

The efforts under the Advanced Manufacturing and Production Center include the Future Factories Program Initiative, the Industrial Beacons Program, the Accelerated Manufacturing Program, the Capability Centers Network, and the Operational Excellence Program, reported SPA. 

These initiatives collectively support the center’s vision of becoming a unified national platform that accelerates the adoption of advanced manufacturing technologies. They also serve as a bridge to help local manufacturers access cutting-edge solutions that improve efficiency, enhance quality, and reduce costs across the industrial sector. 

The center aims to boost productivity and competitiveness in the manufacturing sector by localizing advanced and sustainable technologies, creating an attractive environment for industrial investment, and supporting skill development through its Capability Centers Network. It also offers experiential learning opportunities and provides advisory services to help industrial establishments adopt advanced manufacturing practices. 

The efforts of the ministry are aligned with several government entities that support the center’s vision and objectives.

In 2022, the ministry launched the Future Factories initiative to support the smart transformation journey of industrial establishments, aiming to automate 4,000 Saudi factories and increase their production efficiency, reduce reliance on unskilled labor, and promote the adoption of advanced industrial solutions and practices. 

The initiative offers numerous incentives and enablers to support the digital transformation of national factories, including financing solutions, consulting services, and the development and qualification of human resources to leverage the latest manufacturing technologies. 

It also helps industrial establishments assess their technological maturity and develop transformation plans to adopt operational excellence practices and advanced manufacturing solutions, including AI, robotics, the Internet of Things, and big data analytics. 

To support industrial transformation in the Kingdom and achieve global leadership in adopting advanced manufacturing technologies, the ministry launched the Industrial Beacons program. 

This undertaking aims to enable leading Saudi factories to adopt Fourth Industrial Revolution technologies, thereby enhancing their production efficiency and qualifying them to receive international recognition within the Global Lighthouse Network, an affiliate of the World Economic Forum, by 2030. 

During the launch ceremony of the Advanced Manufacturing and Production Center, the Ministry announced 10 national industrial companies that committed to achieving the standards of the Industrial Beacons initiative. 

With the launch of the Advanced Manufacturing and Production Center and its targeted initiatives to promote advanced technologies and foster research and innovation in the industrial sector, the Kingdom signals that its ambitions extend beyond simply keeping pace with global industrial trends.


Global production of sustainable aviation fuel to reach 2m tonnes in 2025: IATA

Updated 01 June 2025
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Global production of sustainable aviation fuel to reach 2m tonnes in 2025: IATA

  • Ensuring success of Carbon Offsetting and Reduction Scheme for International Aviation is crucial, says IATA head
  • Sufficient government measures needed to meet decarbonization efforts, Willie Walsh added

RIYADH: Global sustainable aviation fuel production is expected to double to reach 2 million tonnes in 2025 compared to the previous year, according to the International Air Transport Association. 

In a press statement issued during IATA’s Annual General Meeting, Director General Willie Walsh noted that the projected 2 million tonnes of SAF will account for just 0.7 percent of total fuel consumption this year.

The use of SAF has been increasingly prominent in recent years, as most countries have set stipulated targets to achieve net zero as part of their energy transition efforts. 

“While it is encouraging that SAF production is expected to double to 2 million tonnes in 2025, that is just 0.7 percent of aviation’s total fuel needs,” said Walsh. 

He added: “And even that relatively small amount will add $4.4 billion globally to the fuel bill. The pace of progress in ramping up production and gaining efficiencies to reduce costs must accelerate.” 

The IATA official further stated that sufficient government measures, including the implementation of effective policies, are needed to meet decarbonization efforts. 

He added that ensuring the success of the Carbon Offsetting and Reduction Scheme for International Aviation is crucial to offsetting carbon emissions in the aviation sector. 

Under CORSIA, an initiative launched by the International Civil Aviation Organization, airplane operators must purchase and cancel “emissions units” to offset the increase in CO2 emissions. 

“Advancing SAF production requires an increase in renewable energy production from which SAF is derived. Secondly, it also requires policies to ensure SAF is allocated an appropriate portion of renewable energy production,” said IATA in the statement. 

In a separate statement, IATA said that $1.3 billion in airline funds are blocked from repatriation by governments as of the end of April.

The industry body, however, noted that this figure also represents a 25 percent improvement compared to the $1.7 billion reported for October. 

The aviation body also urged governments to remove all barriers preventing airlines from the timely repatriation of their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations.

“Ensuring the timely repatriation of revenues is vital for airlines to cover dollar-denominated expenses and maintain their operations. Delays and denials violate bilateral agreements and increase exchange rate risks,” said Walsh. 

He added: “Economies and jobs rely on international connectivity. Governments must realize that it is a challenge for airlines to maintain connectivity when revenue repatriation is denied or delayed.” 


Closing Bell: Saudi main index closes in red at 10,825 

Updated 01 June 2025
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Closing Bell: Saudi main index closes in red at 10,825 

  • MSCI Tadawul Index decreased 21.69 points to close at 1,382.11
  • Parallel market Nomu lost 140.52 points to end at 26,669.23

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Sunday, losing 165.14 points, or 1.50 percent, to close at 10,825.27. 
The total trading turnover of the benchmark index was SR4.27 billion ($1.13 billion), as 31 of the listed stocks advanced, while 215 retreated. 
The MSCI Tadawul Index decreased by 21.69 points, or 1.55 percent, to close at 1,382.11. 
The Kingdom’s parallel market Nomu dipped, losing 140.52 points, or 0.52 percent, to close at 26,669.23. This comes as 20 of the listed stocks advanced while 61 retreated. 

The best-performing stock was Emaar The Economic City, with its share price surging 3.91 percent to SR13.28. 

Other top performers included Sinad Holding Co., which saw its share price rise by 2.56 percent to SR10.42, and Alkhaleej Training and Education Co., which saw a 2.22 percent increase to SR25.35. 
The shares of Al Yamamah Steel Industries Co. and Morabaha Marina Financing Co. also rose by 2.19 percent and 1.85 percent to SR30.30 and SR11, respectively. 
On the downside, United Carton Industries Co. was the day’s weakest performer, with its share price declining 9.31 percent to SR40.90. 
Raydan Food Co. and Makkah Construction and Development Co. also saw declines, with their shares dropping by 8.04 percent and 7.02 percent to SR13.50 and SR90, respectively. 
Moreover, the shares of Gulf Insurance Group and Saudi Fisheries Co. dipped by 6.54 percent and 5.94 percent to SR24.02 and SR95, respectively. 
On the parallel market, Digital Research Co. led the gains, with its share price rising 13.02 percent to SR59.90. 
Future Care Trading Co. and Saudi Parts Center Co. also saw a positive change, with their shares increasing by 9.32 percent and 7.14 percent to SR3.52 and SR45, respectively. 
Conversely, Amwaj International Co. was the weakest performer on Nomu, with its share price falling 9.78 percent to close at SR36.90. 
Fad International Co. and Dar Almarkabah for Renting Cars Co. followed with decreases of 9.42 percent and 9.26 percent to SR76 and SR2.45, respectively. 


Madinah leads regional growth with 24% construction employment in Q1 

Updated 01 June 2025
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Madinah leads regional growth with 24% construction employment in Q1 

  • Construction continued to dominate amid a surge in infrastructure projects
  • Wholesale, retail trade, and vehicle maintenance sector accounted for 20% of workforce

RIYADH: Saudi Arabia’s Madinah region recorded strong first quarter growth in 2025, led by 24 percent workforce participation in construction and 20 percent in trade, signaling diversification momentum. 

A recent report by the Madinah Chamber of Commerce outlines the region’s sectoral distribution, with construction continuing to dominate amid a surge in infrastructure projects, the Saudi Press Agency reported.  

The wholesale, retail trade, and vehicle maintenance sector, which accounted for 20 percent of the workforce, continued to thrive, demonstrating strong commercial activity and consumer demand. This segment’s high employment rate underscores Madinah’s role as a regional trading hub.   

The manufacturing sector, representing 12 percent of the workforce, showed growth that indicates the emergence of a stronger industrial base, contributing to economic diversification and reducing reliance on oil-related industries.     

Tourism, with an 11.2 percent workforce share, remained a key sector for Madinah as a destination for religious tourism, benefiting from a steady influx of pilgrims. The sector’s workforce expansion aligns with increased investment in hospitality, transportation, and tourism-related services, the SPA report added.  

The chairman of the chamber, Mazen bin Ibrahim Rajab, emphasized the focus on improving the business environment by leveraging Madinah’s economic strengths and investment opportunities.   

The report situated Madinah’s growth within broader economic trends. In 2024, the worldwide economic growth reached 3.2 percent, supported by a rebound in foreign direct investment, while inflation declined to 4.5 percent, signaling improving economic stability.     

The Kingdom’s gross domestic product grew by 4.4 percent in 2024, with non-oil sectors expanding by 5.9 percent. Madinah contributed significantly to this trend, recording a 2.8 percent increase in its GDP, reaching SR57.6 billion ($15.3 billion) in the third quarter of 2024.     

The report showed that Madinah recorded the second-highest domestic demand growth in Saudi Arabia at 11 percent, trailing only Riyadh.    

Additionally, foreign direct investment in the Kingdom surged by 36.6 percent in the third quarter 2024, reaching SR16 billion, with Madinah attracting a notable share due to its expanding industrial and commercial opportunities.   

The report also highlighted Madinah’s booming real estate and infrastructure sectors with property transactions in 2024 totaling SR10 billion, reflecting strong investor confidence.    

The job market improved significantly, with unemployment dropping from 10.3 percent in the third quarter of 2024 to 8.4 percent in the following three-month period, thanks to new employment opportunities across key sectors.     

A total of 213 development projects, valued at over SR210 billion, are currently in progress, according to the report. These include 153 commercial projects, 27 mixed-use residential and commercial developments and other projects in healthcare, education, tourism, and religious infrastructure.   

These initiatives are expected to generate more than 119,000 jobs, further boosting Madinah’s economic prospects.