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Aramco And BYD Unveil Car Technology Alliance [Barron's]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
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. Luo Hongbin, BYD senior vice president, said "SATC and our cutting-edge R&D capabilities in new energy vehicles will break the boundaries of geography and mindset to incu
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