Saudi Arabia’s Public Investment Fund and Saudi Electricity Co. (SEC) have founded the Electric Vehicle Infrastructure Co. to boost EV charging infrastructure across the kingdom. Planning to install over 5,000 fast chargers by 2030, the sovereign wealth fund will own 75% of the company, with the SEC holding 25%. The initiative aims to support the EV ecosystem, promote private sector involvement, and foster local expertise, aligning with the country’s Vision 2030 objectives.
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