Formula E electric vehicle racing in Saudi Arabia
Saudi Arabia's path to transition, part 2: Energy addition
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
Saudi Arabia's energy system must undergo a significant transformation to meet its net-zero target by 2060, with renewable energy set to play a crucial role. The country is projected to exceed its 2030 target of 58.7GW of renewable energy generation. Alongside renewables, the government is also focusing on expanding the electric vehicle (EV) industry. The Public Investment Fund (PIF) has allocated $1b to localise EV production, and in 2022 Saudi Arabia launched its own EV manufacturer. Additionally, PIF owns more than 60% of Lucid, a US-based EV maker that has opened a production facility in Saudi Arabia. The Saudi Ministry of Investment has also secured a $5.6b deal with a Chinese EV manufa
Also in this section
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
18 November 2025
Vicki Hollub, president and CEO of Occidental, has been selected as the 2026 recipient of the Dewhurst Award, the highest honour bestowed by WPC Energy. The Dewhurst Award celebrates exceptional leadership, groundbreaking innovation and a lifetime of significant achievements in sup-port of the development and advancement of the energy industry.
11 November 2025
Transition policies must recognise that significant industrial demand for carbon will continue even as economies hit net zero
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
