- Signing of Joint Development Agreement aims to drive innovation

Aramco, one of the world’s leading integrated energy and chemicals companies, and BYD, a leading manufacturer of new energy vehicles and power batteries, have agreed to explore closer collaboration in new energy vehicle technologies.

A Joint Development Agreement signed by Saudi Aramco Technologies Company (SATC), Aramco’s wholly-owned subsidiary, and BYD aims to foster the development of innovative technologies that enhance efficiency and environmental performance. This collaboration leverages the research and development teams of two leading global companies, with the aim of achieving new energy vehicle breakthroughs.

Ali A. Al-Meshari, Aramco Senior Vice President of Technology Oversight & Coordination, said: “The collaboration between SATC and BYD aims to support improvements, and it builds on Aramco’s extensive research and development of new energy solutions. Aramco is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts. This work stems from our belief that multiple approaches are necessary to support a practical energy transition and we are delighted to collaborate with BYD on this journey.”

Luo Hongbin, Senior Vice President of BYD, said: “At the crossroads of technological innovation and environmental protection, BYD always believes that true breakthroughs come from openness and collaboration. We expect that SATC and our cutting-edge R&D capabilities in new energy vehicles will break the boundaries of geography and mindset to incubate solutions that combine highly-efficient performance with a lower carbon footprint. We are confident that this will support the world’s efforts to address the climate challenge.”

About Aramco

Aramco is a global integrated energy and chemicals company. We are driven by our core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world.