Aramco, BYD unveil car tech alliance

Saudi Ara­mco and the Chinese electric vehicle giant BYD announced on Monday an agreement to work together on what they called new-energy vehicle technologies. The Saudi oil giant is already a partner with Renault of France and the Chinese automaker Geely in a joint venture to produce thermal engines. Its subsidiary Saudi Ara­mco Technologies Comp­any is now teaming up with the Chinese EV and hybrid vehicle giant, although terms of the accord were not specified. In a joint statement the companies said the deal aimed to “foster the development of innovative technologies that enhance efficiency and environmental performance.” It was issued as the Shanghai Motor Show opened on Monday. Saudi Aramco, the wor­ld’s largest producer of oil, “is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts,” said Ali A. Al-Meshari, its senior vice president of Techno­logy Oversight and Coordination.