Saudi Aramco’s Plan to Slow Down Electric Vehicle Progress and Compete with Tesla
Saudi Aramco is the world’s largest energy producer and responsible for 53% of oil usage in the auto industry. Despite the increasing popularity of electric vehicles, Saudi Aramco recognizes that internal combustion engines remain the primary energy source for many applications. In this video, we explore why Saudi Aramco is fighting to keep internal combustion engines and how it plans to improve their efficiency to reduce emissions. We also discuss how Tesla’s growth and the increasing focus on EV adoption pose a threat to Saudi Aramco’s profits, and the company’s efforts to enter the EV market.
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