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Saudi Arabia forms company to develop EV charging infrastructure – Arab News

Saudi Arabia forms company to develop EV charging infrastructure – Arab News

RIYADH: The Public Investment Fund and Saudi Electricity Co. on Sunday launched a company to develop electric vehicle charging infrastructure in the Kingdom. According to an official statement, the Electric Vehicle Infrastructure Co. will “establish its presence in more than 1,000 locations, installing over 5,000 fast chargers by 2030 in cities across Saudi Arabia.” The sovereign wealth fund will own a 75 percent stake in the company, while the SEC will hold the remaining 25 percent stake. Omar Al-Madhi, co-head… 

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