Saudi Aramco, one of the world's largest integrated energy and chemicals companies, and BYD, a leading new energy vehicle and power battery manufacturer, have signed an agreement to work together in exploration of new energy vehicle technologies.
The Joint Development Agreement between Saudi Aramco Technologies Company (SATC), Aramco's wholly-owned subsidiary, and BYD aims to stimulate innovative technologies that will pursue better efficiency and environmental performance. This collaboration will use the two leading companies' robust research and development teams in hopes to achieve global breakthroughs in new energy vehicles.
Ali A. Al-Meshari, Aramco Senior Vice President of Technology Oversight & Coordination, said: “The collaboration between SATC and BYD aims to support energy efficiency 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.”