Saudi Arabia risking its economy to rule over EV batteries

Saudi Arabia risking its economy to rule over EV batteries

The Oil supplier of the world is now securing its future with EV batteries.

Saudi wants 30% of car driving on its roads to be electric till this decade.

Saudi is investing aggressively and inviting other countries to develop EV batteries and related resources in its country.

Saudi’s mineral ministry has announced a $6 billion to ramp-up its mining industry.

It also signed an agreement with lucid motors to import 1lakh+ EV’s.

With the heavy investments the Saudi want to become next EV hub followed by China.

Saudi has everything to prosper in this industry money, motivation, and resources.

By seeing the EV boom Saudi is preparing to remain the sole leader in manipulating your vehicle cost.

But the concerning part is Saudi is acting horribly fast in this field.

If it fails Saudi’s economy will face an huge setback and fuel price will rice high.

Li-ion is the key component for EV’s and the one have it will rule the future.

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