Riyadh – Mubasher: Saudi Arabia intends to produce and export more than 150,000 electric cars by 2026, SPA news agency cited the Saudi Minister of Communications and Information Technology, Abdullah Alswaha.
Alswaha pointed out that the target aligns with Saudi Arabia’s National Industry Strategy which focuses on 12 sub-sectors to diversify the industrial economy across the Kingdom.
The strategy is expected to create more than 800 investment opportunities at a total value of SAR 1 trillion to achieve economic returns in Saudi Arabia by 2030. It also aims at doubling the Kingdom’s local industrial production by three times and increasing the value of industrial exports to SAR 557 billion.
Furthermore, the initiative is targeting additional investments worth SAR 1.30 trillion in the industrial sector to promote the exports of advanced technology products by about six times and develop tens of thousands of high-value jobs.
Meanwhile, Abdulaziz bin Salman, the Saudi Energy Minister, pointed out that the strategy will contribute to the localisation of the energy sector, in which the government seeks to explore investment opportunities worth SAR 2.80 trillion.
