[Ferro-Alloys.com] 

Saudi Arabia’s next act is supplying the world with EV batteries

The world’s biggest oil producer is now also aiming to become a key hub for making batteries for electric vehicles, as Saudi authorities look for new ways to diversify the economy and develop a domestic auto industry.

Saudi Arabia is looking at investing in the production of EV batteries and manufacturing hydrogen-powered vehicles as the next step in its plans to build a nexus for carmaking in the Middle East, Khalid Al-Falih, the minister of investment said.

Saudi efforts are now also zeroing in on renewable energy and mining minerals needed to develop battery chemicals. Saudi Arabia has already set a target for producing 500,000 electric vehicles by 2030.

• [Editor:邢亚敏]