Saudi Aramco, the world's largest oil company, is set to announce an investment in lithium production. This move aims to capture part of the lithium supply chain and diversify the company's portfolio beyond oil. The investment is part of a larger plan for Aramco to become a mining hub and capitalize on the growing demand for lithium, a key material in the energy transition.
The world’s top crude oil exporter, Saudi Aramco, is set to announce on Wednesday a push to invest in lithium production and developments to capture part of the supply chain and diversify from oil, sources close to the largest oil firm globally told the Financial Times. The move to boost investments in lithium is part of a wider plan at the Saudi oil giant to become a mining hub and diversify into the material critical for the energy transition, according to FT’s sources.
Ceer says it is committed to designing, manufacturing, and supplying technologically sophisticated electric sedans and SUVs, leveraging advanced systems from Foxconn and BMW, all from its base of operations in King Abdullah Economic City, Saudi Arabia. The Kingdom has been seeking to diversify revenue streams and tap other profitable operations apart from oil, to fund the Vision 2030 plan of Crown Prince Mohammed bin Salman, which includes billions of U.S.
LITHIUM OIL ENERGY TRANSITION SAUDI ARABIA INVESTMENTS
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