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

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

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.


Oman’s Asyad Group plans to sell at least 20% of shipping unit via IPO

Oman’s Asyad Group plans to sell at least 20% of shipping unit via IPO
Updated 22 January 2025
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Oman’s Asyad Group plans to sell at least 20% of shipping unit via IPO

Oman’s Asyad Group plans to sell at least 20% of shipping unit via IPO
  • Offering will be made in two tranches, with 75% made to eligible investors in Oman and qualified institutional and other foreign investors
  • Remaining 25% will be sold to retail investors in Oman

DUBAI: Oman’s state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the Gulf country’s privatization drive.
The group, owned by Oman’s sovereign wealth fund, plans to sell a stake of at least 20 percent in Asyad Shipping Co. and float it on the Muscat stock exchange, it said in a document detailing its intention to float.
“The intended listing would provide investors with the opportunity to invest in one of the world’s largest diversified maritime shipping companies and a key player in the Omani economy,” the company said.
Oman is pushing forward with a privatization drive to attract foreign investors.
That strategy, along with fiscal reforms, has helped the sultanate pay down debt and turn its large fiscal deficit of recent years into a surplus since 2022.
Asyad Shipping focuses on transporting liquefied natural gas, crude oil and other products. It lists energy firms BP and Shell, as well as trading firm Trafigura among its customers and partners.
Reuters reported in July last year that Asyad was planning an initial public offering of the subsidiary and had selected Jefferies Group and EFG Hermes as advisers.
The offering will be made in two tranches, with 75 percent made to eligible investors in Oman and qualified institutional and other foreign investors. Of the 75 percent tranche, 30 percent of shares have been earmarked for anchor investors, the firm said, without naming them.
The remaining 25 percent will be sold to retail investors in Oman.
The subscription period is expected to start next month, after the company has received regulatory approval.
Asyad Shipping plans to pay dividends semi-annually, beginning in September 2025 for the first six months of this year.
The company posted an adjusted core profit margin of 69 percent for the first nine months of last year, up from 65 percent over the same period in 2023.
Oman Investment Bank, EFG Hermes, JP Morgan and Jefferies are acting as joint global coordinators. Sohar International is acting as joint global coordinator and as issue manager.
Credit Agricole and Societe Generale are joint bookrunners.


Closing Bell: Saudi Arabia’s main market dips slightly to 12,362

Closing Bell: Saudi Arabia’s main market dips slightly to 12,362
Updated 22 January 2025
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Closing Bell: Saudi Arabia’s main market dips slightly to 12,362

Closing Bell: Saudi Arabia’s main market dips slightly to 12,362

RIYADH: Saudi Arabia’s Tadawul All Share Index was steady on Wednesday, as it marginally shed 7.21 points or 0.06 percent to close at 12,362.39.

The total trading turnover of the benchmark index was SR7.62 billion ($2.03 billion), with 109 of the listed stocks advancing and 122 falling.

The Kingdom’s parallel market Nomu also declined 317 points to close at 31,000.87, while the MSCI Tadawul Index edged down by 0.26 percent to 1,545.02.

The best-performing stock on the main market was Naseej International Trading Co. The firm’s share price surged by 9.96 percent to SR108.20.

Naseej was one of the three Tadawul-listed firms, alongside Saudi Cable Co. and Middle East Specialized Cables Co., to hit their highest levels in a year.

Saudi Cable Co. peaked today at SR128, compared to SR62.9 in March, a 103.58 percent increase.

Middle East Specialized Cables Co. share price jumped from SR21.28 in January 2024 to close at SR47.2 today.

Naseej International Trading Co.’s share price increased 55.7 percent from January last year to close at SR98.4 on Wednesday.

Other top gainers were Jahez International Co. for Information System Technology and Middle East Healthcare Co., whose share prices grew by 6.09 percent and 4.75 percent, to SR33.95 and SR79.40, respectively.

National Medical Care Co. and Al Jouf Cement Co. also saw a positive change, with their share prices surging by 4.12 percent and 4.01 percent to SR161.6 and SR11.92, respectively.  

Elm Co. saw the steepest decline of the day, with its share price dropping 4.03 percent to close at SR1,176.2.  

United International Transportation Co. and Etihad Atheeb Telecommunication Co. declined, with their shares slipping 2.72 percent and 2.66 percent to SR82.30 and SR102.60, respectively. 

On Nomu, Armah Sports Co. was the best performer, with its share price rising by 7.34 percent to reach SR95.  

Quara Finance Co. also delivered a strong performance as its share price rose by 5.26 percent, reaching SR20, while Arabian Food and Dairy Factories Co. recorded a 2.99 percent increase at SR99.  

WSM for Information Technology Co. shed the most on Nomu, with its share price dropping by 6.33 percent to reach SR53.3.  

Saudi Parts Center Co. experienced a 6.25 percent decline in share prices, closing at SR60, while First Avenue for Real Estate Development Co. 6.04 percent to settle at SR9.02. 


Saudi crude output up 1.21% to hit 8.92m bpd: JODI 

Saudi crude output up 1.21% to hit 8.92m bpd: JODI 
Updated 22 January 2025
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Saudi crude output up 1.21% to hit 8.92m bpd: JODI 

Saudi crude output up 1.21% to hit 8.92m bpd: JODI 

RIYADH: Saudi Arabia’s crude oil production rose to 8.92 million barrels per day in November, a 1.21 percent annual increase according to the latest release from the Joint Organizations Data Initiative. 

The report showed a 2.05 percent drop in crude exports, which fell to 6.21 million bpd, although this figure marks the highest level in eight months. 

Refinery crude exports surged 36 percent year on year to 1.14 million bpd in November but declined by 18.65 percent compared to October. 

Key refined products included diesel, motor gasoline, aviation gasoline, and fuel oil.

Diesel exports accounted for 38 percent of refined product shipments, while motor and aviation gasoline made up 24 percent, and fuel oil comprised 11 percent. 

Notably, motor and aviation shipments rose 63 percent annually to 272,000 bpd in November. Diesel exports also increased by 27 percent reaching 439,000 bpd. 

Saudi Arabia’s refinery output reached 2.35 million bpd, a 13 percent year-on-year increase, with diesel representing 40 percent of total refined products, followed by motor and aviation gasoline at 25 percent and fuel oil at 19 percent. 

Domestic demand for refinery products increased by 210,000 bpd year on year, reaching 2.56 million bpd. 

OPEC+ has decided to delay the start of oil output increases by three months until April, and extend the full unwinding of cuts by a year, now set to finish by the end of 2026. 

This decision was made in response to weak global demand and rising production from countries outside the group. OPEC+, which controls around half of the world’s oil production, had initially planned to begin unwinding cuts in October 2024, but delays were caused by global demand slowdowns and growing non-OPEC+ output. 

Direct crude usage 

Saudi Arabia’s direct crude oil burn fell by 119,000 bpd in November to 382,000 bpd, a 24 percent year-on-year decline and a 5.5 percent increase from October. 

The annual reduction can be attributed to the global shift toward cleaner energy sources, such as natural gas, renewables, and electricity, which are gradually replacing crude oil in sectors like power generation and shipping. 

Additionally, improved energy efficiency and stricter environmental regulations have led to further reductions in crude oil use. 

By 2030, the Saudi government plans to phase out the use of crude oil, fuel oil, and diesel in power generation, replacing them with natural gas and renewable energy sources. 

This transition is a key component of the Kingdom’s Vision 2030 initiative, aimed at diversifying its energy mix and reducing dependence on oil, both domestically and in global markets. 

As Saudi Arabia moves toward this objective, natural gas demand is anticipated to rise sharply, driving increased investments in the natural gas supply chain, including exploration and infrastructure development. 


Ogero resumes telecom expansion in Lebanon, boosting connectivity and major upgrades

Ogero resumes telecom expansion in Lebanon, boosting connectivity and major upgrades
Updated 22 January 2025
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Ogero resumes telecom expansion in Lebanon, boosting connectivity and major upgrades

Ogero resumes telecom expansion in Lebanon, boosting connectivity and major upgrades
  • Ogero connected 221,000 households to fiber-optic Internet in 2024 and plans to add 406,000 new subscribers this year
  • It is is also upgrading from Wi-Fi 5, currently used at Beirut Rafic Hariri International Airport, to Wi-Fi 7

RIYADH: Lebanon’s state-owned telecom company Ogero is working to restore and expand the country’s connectivity after experiencing damages due to the Israeli conflict.

The clashes have significantly disrupted Lebanon’s telecom infrastructure, impeding connectivity and slowing the nation’s digital advancement.

Ogero’s Chairman and Director General Imad Kreidieh announced in a live broadcast that the company’s expansion plans will resume, supported by funding from multiple donors.

According to Kreidieh, Ogero connected 221,000 households to fiber-optic Internet in 2024 and plans to add 406,000 new subscribers to the network this year.

The company is also upgrading from Wi-Fi 5, currently used at Beirut Rafic Hariri International Airport, to Wi-Fi 7. The upgrade will provide speeds of up to 3,500 megabits per second with ultra-low latency of 2—4 milliseconds. 

The network’s backhaul capacity is being upgraded from 20 gigabits per second to 40 Gbps to support enhanced connectivity, according to Kreidieh.

Ogero is also expanding its LTE infrastructure, increasing the number of stations from 97 to 219 by the end of 2025 and 390 by 2026, which translates to better and wider coverage nationwide. 

The LTE-Advanced capacity will be quadrupled from 10 Gbps to 40 Gbps to enhance performance and service quality.

The top official also said that Ogero will build 215 new stations in the southern and Baalbek regions, which were heavily damaged by Israeli strikes, over the next 24 months, allowing users to regain connectivity.

In a move toward sustainability, Ogero is also implementing solar energy solutions for 358 sites, with a 4-megawatt production capacity and 463 kiloampere-hours storage capacity. The $9.6 million project is expected to generate $8.5 million in annual savings, according to Kreidieh.

Ogero serves as the core of the Ministry of Telecommunications, providing essential infrastructure for all telecom networks, including mobile operators, data service providers, and Internet service providers.


Up to 40 Canadian firms eyeing investment in Saudi Arabia’s healthcare sector

Up to 40 Canadian firms eyeing investment in Saudi Arabia’s healthcare sector
Updated 22 January 2025
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Up to 40 Canadian firms eyeing investment in Saudi Arabia’s healthcare sector

Up to 40 Canadian firms eyeing investment in Saudi Arabia’s healthcare sector

RIYADH: Up to 40 Canadian firms are eying investment in Saudi Arabia’s healthcare sector amid efforts to strengthen economic ties between the countries.

The interest was highlighted at a healthcare event organized by the Federation of Saudi Chambers at its headquarters in Riyadh, which showcased various investment opportunities within the sector, the Saudi Press Agency reported.

This aligns with Saudi Arabia’s objective to boost private sector participation in healthcare to 25 percent by 2030, reflecting the rapid growth and expansion of the industry, along with attractive investment incentives. It also underscores the Kingdom’s broader efforts to strengthen ties with Canada, highlighted by the restoration of diplomatic relations in May 2023 after a five-year hiatus.

During the gathering, Chairman of the Saudi-Canadian Business Council Mohammed bin Nasser Al-Duleim highlighted the body’s pivotal role in boosting trade relations and fostering investment between the Kingdom and the North American country.

Al-Duleim also provided an overview of Vision 2030 initiatives and talked up the incentives and support offered by Saudi Arabia to foreign investors.

The Ambassador of Canada to the Kingdom Jean-Philippe Linteau commended the efforts to strengthen economic ties between countries. 

He emphasized the joint business council’s contributions and highlighted the strong interest of Canadian firms in Saudi Arabia’s healthcare sector.

In December, economic cooperation was the focus of a high-level meeting between a senior Saudi official and the Canadian ambassador, reflecting the ongoing progress in relations between the two nations.

The Kingdom’s Minister of Economy and Planning Faisal Al-Ibrahim held talks with Linteau at his department’s headquarters in Riyadh, SPA said at the time. 

Since normalizing relations, Canada is keen to build a “great relationship” with the Kingdom, Linteau said during an interview with Arab News in February. 

His commets came a month after Saudi Arabia and Canada agreed to re-exchange trade delegations, aiming to improve economic relations and increase trade and investment volumes. 

Hassan Al-Huwaizi, president of the Saudi Chambers of Commerce, emphasized at the time that establishing a joint business council would provide a platform for business leaders to promote activities and engage in partnerships, facilitating continuous interaction and information exchange about market opportunities.

In 2022, Saudi exports to Canada stood at $2.5 billion, with imports valued at $959 million, according to online data visualization and distribution platform Observatory of Economic Complexity.