In a bid to enhance its position as a leading player in the mining and electric vehicle sectors, Saudi Arabia is reaching out to Chinese companies for strategic partnerships. The Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, recently engaged with Chinese mining firms to explore collaborative opportunities in the processing and production of essential materials like lithium and copper. These are critical components in the burgeoning electric vehicle market.
Strengthening Bilateral Ties
During an official visit to China, Alkhorayef, accompanied by high-ranking officials including Abdullah Ali Alahmari, Saleh Al-Solami, and Majed Al-Argoubi, aimed to bolster Saudi Arabia’s industrial ties in East Asia. The discussions focused on attracting foreign investments to the Kingdom and uncovering new opportunities within the industrial sector. Notably, the talks with General Lithium Corporation centered around advancing the Kingdom’s electric car manufacturing goals, leveraging innovation and knowledge exchange in lithium production.
Saudi Arabia’s ambitions include becoming a pivotal global hub for electric vehicle production and export. By 2030, the Kingdom aspires to manufacture 500,000 electric vehicles annually, contributing significantly to the National Industrial Strategy’s focus on environmentally friendly automotive solutions.
Pioneering Electric Vehicle Manufacturing
Saudi Arabia has already made strides in the electric vehicle arena. Last year, the country issued a license for “Ceer,” its first domestic electric car brand, and inaugurated “Lucid,” the first factory dedicated to electric vehicles. Ceer, a collaborative venture between Foxconn and the Saudi Public Investment Fund, has committed USD 1.3 billion to construct an electric car complex in King Abdullah Economic City, with production slated to commence by 2025.
Expanding the scope of his visit, Alkhorayef engaged with Jiangxi Copper Company, a major player in the global copper market, to discuss advancements in copper processing and refining. The dialogue also included discussions on sustainability initiatives and innovations to meet the increasing worldwide copper demand.
Exploring Technological Frontiers
Beyond mining, Alkhorayef’s Chinese tour included meetings with leaders in smart manufacturing, infrastructure development, and packaging sectors. He explored mutual investment prospects and highlighted the incentives Saudi Arabia offers to industrial investors. Notably, discussions with Biwin Storage Technology focused on packaging sector collaboration, while engagements with HeyGears explored the application of 3D printing technology across various industries.
Additionally, the minister met with Huawei’s leadership to discuss initiatives aimed at enhancing digital skills and implementing advanced technologies like AI, IoT, and robotics to boost manufacturing productivity. This visit underscores Saudi Arabia’s commitment to integrating cutting-edge technologies into its industrial landscape, positioning the Kingdom as a prime destination for foreign investment and innovation.
