Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Saudi EVIQ unveils R&D facility

EVIQ is on track to deploy 5,000 chargers across 1,000 strategic locations by 2030. (SPA)
  • The CEO of EVIQ said that with the setting up of R&D facility the company was paving the way for the growth of a sustainable EV ecosystem in Saudi Arabia
  • The company said that the facility will serve as a hub for developing the expertise and knowledge in EV charger technology, bolstering the EV market in the kingdom

Riyadh, Saudi Arabia–EVIQ, the Electric Vehicle Infrastructure Company, a newly launched joint venture between the Public Investment Fund (PIF) and the Saudi Electricity Company (SEC), today announced the opening of a research and development (R&D) facility in Riyadh that is a first-of-its-kind in the region, according to an EVIQ press release.

The new facility will be used for testing a spectrum of chargers and software, to ensure the deployment of best-in-class equipment and related software, reinforcing EVIQ’s commitment to quality, efficiency, and driving the evolution in the EV sector across the Kingdom of Saudi Arabia, said the release.

It will also give EV drivers in Saudi Arabia the confidence that EVIQ chargers have been thoroughly tested to the highest quality and safety standards for operating in Saudi Arabia.

EVIQ CEO Mohammad Bakr Gazzaz said: “The launch of our R&D facility is a testament to our commitment to quality and sustainable development of the Kingdom’s EV infrastructure. Our state-of-the-art facility ensures that EVIQ remains at the cutting-edge of EV charging solution development, bringing users the optimal charging experience, and ensuring that every EV driver in Saudi Arabia has access to reliable and efficient charging solutions.”

He added: “This facility is a cornerstone in our strategy to support the Kingdom’s Vision 2030. By focusing on top-quality charger deployment and ensuring compatibility with a range of EVs, we are paving the way for the growth of a sustainable and advanced EV ecosystem in Saudi Arabia, further supporting the wider Saudi objectives.”

According to the release, the new R&D facility plays a crucial role in EVIQ’s mission to “deliver the highest quality EV charging solutions by thoroughly testing various types of chargers”.

The facility is not just a testament to EVIQ’s commitment to innovation, but also a significant step toward enhancing charger efficiency, reliability and compatibility, said the release, adding that it serves as a hub for developing the expertise and knowledge in charger technology that will support the evolving needs of the electric vehicle market in Saudi Arabia.

The release added that in alignment with Saudi Arabia’s sustainability goals, “EVIQ is on track to deploy 5,000 chargers across 1,000 strategic locations by 2030.

This ambitious plan highlights EVIQ’s dedication to catalyzing the EV ecosystem in Saudi Arabia, heralding a new era of sustainable mobility”.