Altaaqa, part of Jeddah-based Zahid Group, and France’s TotalEnergies have signed a preliminary agreement to develop and install integrated electric vehicle charging stations in Saudi Arabia.
Under the Altaaqa EV brand, the companies will offer end-to-end solutions for the development of the stations, including infrastructure, EV supply equipment deployment, TotalEnergies said in a statement on Wednesday. They will also collaborate on preliminary studies, engineering, project management and technical operations.
The preliminary agreement will “reassure automotive retailers and end-users across the Kingdom of Saudi Arabia as they transition towards electric vehicles”, Majid Zahid, group president for energy at Zahid Group, said.
Saudi Arabia, the Arab world’s biggest economy, aims to drive its economy into the future with its Vision 2030 agenda, which has an emphasis on supporting the sustainable development goals of all economic sectors. The kingdom aims to achieve net-zero carbon emissions by 2060 through a circular carbon economy approach.
Part of this strategy is the transition to greener forms of transport. The rapid growth of the kingdom’s EV market earned it a top-50 spot in the latest Automotive Electrification Index, released this month by New York consultancy AlixPartners.
On Wednesday, Lucid Motors, the EV maker backed by Saudi Arabia’s Public Investment Fund, signed an agreement with the Saudi government for the sale of 100,000 cars that will support Riyadh’s sustainability drive.
Altaaqa EV will submit proposals to both contractors, which will provide comprehensive EV charging station solutions. It said it would also ensure that the Saudi EV market had access to the highest international standards of quality and safety.
“Our two groups are joining forces to start addressing the Saudi Arabian electric mobility market. It’s a great opportunity to be committed to the transition towards a more sustainable land transportation,” said Pierre Clasquin, vice president of EV charge division at TotalEnergies.
Altaaqa was established in Saudi Arabia in 2004. Its parent company, Zahid Group, is a privately held organisation employing about 5,000 people in sectors including energy, utilities, heavy machinery, financial services, manufacturing, transport and hospitality.
TotalEnergies is a global multi-energy company that employs about 105,000 people.