Leading British Construction Group and Saudi Company (KABCON) Join Forces to Fuel Vision 2030 Growth       •       KABCON is delighted to announce that we have been awarded the contract for the SCADA and GSM communication network located in Diriyah Riyadh, on behalf of NESMA & Partners. The project is proposed to commence at the beginning of January 2024 with a milestone challenge of 45 days. KABCON partnering with LION-INC will implement the project with dedicated solely to the successful execution of the project covering many disciplines and team work aspects and subcontractors scope.

Get a Quote

Edit Template

Saudi Arabia’s EV goals need infrastructure implementation, says EVIQ CEO

RIYADH: A robust electric vehicle transition that will support Saudi Arabia’s energy goals can only occur with the needed infrastructure, the CEO of the Electric Vehicle Infrastructure Co. has told Arab News.

Mohammad Gazzaz said the Kingdom has outlined “clear plans” for its ambitions toward electrification, making the need for a framework to fulfill the goals imperative.

Research carried out by his firm – a collaborative effort between the Public Investment Fund and the Saudi Electricity Company – outlined that while there is “huge interest” in EVs among the Kingdom’s population, one of the barriers for potential buyers is the lack of infrastructure.

However, in what was described by Gazzaz as “the chicken or the egg situation,” investors are not keen to put money into the infrastructure because of the high capital cost and the limited number of EVs on the road.

EVIQ is hoping to break the stalemate by installing over 5,000 fast chargers across 1,000 locations throughout the Kingdom.

Robust EV charging infrastructure

“In order for those (electrification) ambitions to be fully recognized, one of the key aspects in terms of helping achieve that vision and ambition is the availability of a robust public charging infrastructure network,” Gazzaz said.

He underscored the pivotal role that the SEC – which owns 25 percent of the company – will play, aiding in the development and enhancement of the ecosystem.

The body will be able to “quickly address” some of the apparent issues in the market.

Kingdom has outlined clear plans for electrification, making the need for a framework to fulfill the goals imperative

The initiative will aid in facilitating progress within the sector as a whole, the executive outlined, saying: “There are other strategic related projects, such as CEER and LUCID, that the PIF has invested in, and this is going to enable those companies in terms of having the infrastructure available. But also just overall in terms of EV adoption and the decarbonization targets of the Kingdom.”

The company is working with automakers that are offering, or are soon to start delivering, EVs in the Saudi market, to ensure a seamless and efficient user experience, with goals of integrating EVIQ’s charging network into the cars’ onboard navigation systems. 

Despite the fact that the number of EVs on the road remains limited, the venture hopes to catalyze the transition needed to “ignite the sector” through collaborating with a broad range of partners, including those in real estate, vehicle manufacturers and governmental entities.

By deploying the chargers across the Kingdom, the CEO noted that this will lead to a market that is inherently more attractive and viable for the private sector investor, drawing more interest into the sector.

By looking at markets that have undergone this transformation in the last decade, it becomes apparent that this undertaking within the Kingdom cannot be tasked to one single entity. Rather, it births opportunities within the sector for players in manufacturing, maintenance and installation, according to the executive. 

Leave a Reply

Your email address will not be published. Required fields are marked *

KABCON is diversified group with extensive interests in Telecommunications, Security Systems, Electrical works, Mechanical, Construction, Manufacturer of Panel boards, Electrical Distributions, Power Transmissions, Renewable Energy & Industrial material supply.

Get In Touch

You have been successfully Subscribed! Ops! Something went wrong, please try again.

© 2024 KABCON Co.