Share
Saudi Arabia, the world’s second-largest oil producer behind the United States, is going all in on electric vehicles and battery production.
While many Republican leaders continue to yell “drill, baby, drill” and bad-mouth EVs, the Saudis want 30% of the cars in the capital city of Riyadh to be electric by, 2030, Bloomberg reports.
“The world’s oil capital wants to go electric and get clean,” writes Bloomberg’s Anjani Trivedi. “To do so, it’s getting its hands on minerals critical for batteries and taking a stake in the electric vehicle-supply chain. That should put countries and companies prone to announcing ambitious plans but then doing little to make them a reality on high alert.”
Trivedi also warns: “It’s almost too late for the U.S. and parts of Europe to catch up. Other places in the Middle East are also looking to make the transition away from their economic reliance on oil toward greener technology. Abu Dhabi recently drew in a lithium firm to build facilities at the Khalifa Industrial Zone to extract the metal and recover valuable by-products from lithium-mica and phosphate minerals.”
Read more at this Bloomberg link.
RELATED TOPICS:
New California Environmental Rollbacks Could Boost Housing Projects in Fresno
9 hours ago
Iran Made Preparations to Mine the Strait of Hormuz, US Sources Say
9 hours ago
Trump Floats Daughter-in-Law Lara Trump for Senate Run in North Carolina
9 hours ago
Google Hit With $314 Million US Verdict in Cellular Data Class Action
10 hours ago
Trump Says US Could Reach Trade Deal With India, Casts Doubt on Deal With Japan
11 hours ago
Jury Reaches Verdict on Some Counts at Sean ‘Diddy’ Combs’ Sex Trafficking Trial
11 hours ago
How Wimbledon Is Tackling Its Hottest Opening on Record
11 hours ago

Trump Says Israel Has Agreed to Conditions to Finalize 60-Day Gaza Ceasefire

New California Environmental Rollbacks Could Boost Housing Projects in Fresno

Iran Made Preparations to Mine the Strait of Hormuz, US Sources Say

Trump Floats Daughter-in-Law Lara Trump for Senate Run in North Carolina

Google Hit With $314 Million US Verdict in Cellular Data Class Action
