• 7 minutes Does S Arabia Have 2 Mln Barrels in Spare Capacity?
  • 11 minutes Oil prices going down
  • 19 minutes Venezuela, the largest oil reserve in the world, faces deep shortages of motor oil
  • 17 hours 67.50 was the low for now, $70 - $76+ back in play
  • 17 hours EU And Japan Sign Historic Free Trade Deal
  • 16 hours Where 3 Million Electric Vehicle Batteries Will Go When They Retire?
  • 16 hours Daimler and BMW Will Beat Tesla in EV Race
  • 1 day Chartist predicting a $1 fall, after WTI drops $10
  • 21 hours Germany: We Can No Longer Fully Rely On U.S. White House
  • 17 hours China’s Technology Sector Takes On Silicon Valley
  • 10 hours Chile Becomes The Latest Country To Commit To 100% Renewables
  • 2 days Well from $74 we hit 67.xx now what?
  • 20 hours Trump-Putin Helsinki Summit And Oil Prices
  • 1 day Rio Tinto Says $4-Million Goodbye to Coal
  • 2 days Trade War of 1930s, Extended the Great Depression
  • 2 days Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 17 hours Trump mulling releasing 5 to 30 Mill Barrels
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Trending Discussions

Saudi Arabia Looks To Test EVs In Harsh Climate

EV

State-held Saudi Electricity Company signed an agreement on Sunday with Japanese energy firms and carmaker Nissan to launch the first pilot project for electric vehicles in the country best known for its oil production and exports.

Saudi Electricity signed the deal with Tokyo Electric Power Company (TEPCO), its affiliate Takaoka Toko Co. Ltd., and car manufacturer Nissan to test the feasibility of EVs in the harsh climate of Saudi Arabia, TEPCO said in a statement on Monday.

Saudi Arabia, OPEC’s largest exporter and de facto leader, aims to cut domestic oil consumption to free more oil for exporting and to reduce its carbon emissions, TEPCO said.

The pilot project will use three of Nissan’s latest New LEAF electric car models, and TEPCO affiliate Takaoka Toko will provide quick chargers for each of them. The pilot project, set to launch in April this year, will monitor the effects of the heat in the Saudi summer, as well as dust and sand, on the performance of EVs.

For one year, Saudi Electricity will operate the three Nissan EVs and the three Takaoka Toko quick chargers, while TEPCO will evaluate the data from the pilot project.

The companies will also develop a business plan for the use of EVs and quick chargers in Saudi Arabia, TEPCO said. Related: Geopolitical Wildcards Could Push Oil Beyond $70

The rise of the electric vehicles and the global drive to reduce the carbon footprint has caused every big carmaker in the world to launch or plan to launch EVs.

In Saudi Arabia, state oil giant Aramco is working on internal combustion engine (ICE) efficiencies, and is showcasing its technologies at the North American International Auto Show in Detroit.

Still, Aramco’s chief executive Amin Nasser thinks that EVs won’t be a real threat to oil consumption for decades to come.

“Electric vehicles will continue to grow. They will take good market share, but it will be decades before they shoulder a significant percentage of the energy mix,” Nasser told CNBC in October 2017.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News