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How will electric cars affect Saudi Arabia?

Saudi Arabia is a large exporter of oil and natural gas, so I’m wondering about how the EV industry will affect the economy there?

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Marlee John · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question, we appreciate your concern. Middle Eastern countries have had a grasp on the fuel industry for decades. However, Saudi Aramco claims that it doesn’t fear electric cars since they predict that traditional engines will still be around well into the 21st century despite the push for EVs.
The Chief Technology Officer Ahmad Al Khowaiter, suggested investing in cleaner combustion engine technologies to bring down emissions in order to avoid canceling traditional vehicles altogether.
Electric cars don’t require the same types of fuel that traditional engines need. With Saudi being one of the world’s largest exporters of oil the rise of EVs could be detrimental to the industry. However, despite the push for EVs, the company may be right in its prediction for a slow adoption of EVs. Additionally, electricity production still has a way to go before it’s 100% green.
EVs are bulldozing the oil industry, but don’t let your insurance bulldoze your wallet. Try
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MORE: The Effect of Electric Vehicles On International Fuel Taxes
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