All Articles
Climate Tech

Saudi Arabia is Betting Billions To Lead The Lithium Battery Boom

November 23, 2023
x min read

The production of lithium batteries for electric vehicles continues to be a mega trend. And now Saudi Arabia wants in on the action.

What’s happening:

  • Saudi Arabia has declared their new plans to focus on becoming a leader in electric vehicle battery production
  • In a flurry of recent public statements, Saudi Arabia's political leaders have said they are taking steps to embrace electrification and the global energy transition

Why it matters:

  • Saudi Arabia is the world’s largest producer of oil and this new venture into lithium battery production marks a potential paradigm shift into reducing their dependance on petroleum

Going deeper:

  • Aside from lithium batteries and electric vehicles, Saudi Arabia has also stated their plans to begin manufacturing hydrogen powered vehicles
  • Saudi Arabia has identified numerous deposits of metals that are critical to the energy transition within their country and is likely to become a highly important region for mining globally

By the numbers:

  • Saudi Arabia will put $2 billion into the construction of a electric vehicle battery metals plant
  • Currently, 90% of Saudi Arabia’s exports are oil, petrochemicals and plastics
  • By the end of the decade Saudi Arabia is aiming to produce 500,00 electric vehicles

Discover what’s next. The world’s biggest ideas, disruptive trends, most exciting early stage companies and groundbreaking entrepreneurs.

By clicking Subscribe you're confirming that you agree with our Privacy Policy.
Thanks for subscribing!
Keep an eye out for a welcome email shortly.
Oops! Something went wrong while submitting the form.