Saudi Arabia records $2.8bn insurance expenditure in October

Saudi Arabia records $2.8bn insurance expenditure in October

Electric Vehicle Infrastructure Co. to promote charging network under EVIQ brand name

RIYADH: Saudi Arabia’s electric vehicle infrastructure has a new identity, with its core company responsible for building EV charging stations in the Kingdom getting a brand name. 

The Electric Vehicle Infrastructure Co. will promote fast-charging points across the Kingdom as the EVIQ, says an official statement.

EVIQ, a joint venture between the Public Investment Fund and the Saudi Electricity Co., plans to install over 5,000 fast chargers across 10,000 locations across the Kingdom. 

While the PIF owns a 75 percent stake in the EV infrastructure company, the SEC holds the remaining 25 percent. 

“Electric cars are the future of transportation, and we observe a widespread and growing interest in electric vehicles among Saudi consumers,” said EVIQ CEO Mohammed Bakr Qazzaz in a statement. 

He added: “EVIQ will provide a network of fast and reliable charging points for electric vehicles throughout the Kingdom, laying the groundwork for increased electric vehicle usage within the community.” 

EVIQ’s goal is to build a strong foundation for the sector, increasing the adoption of EVs among Saudis and making the industry more attractive to investors. 

“By offering a national network of dependable and fast-charging stations, EVIQ aims to bridge this gap and