Aramco Agrees With China’s BYD to Explore New EV Technology

Saudi Arabia’s state oil company and one of China’s main electric carmakers agreed to explore closer collaboration on new energy vehicle technology, a move that would bring the world’s biggest crude exporter and consumer together to navigate changes in mobility.

Saudi Aramco and BYD Co. signed an agreement to combine research, find new technologies and improve transport efficiency, according to a statement. The companies didn’t provide further detail or indicate when the deal might advance to more formal cooperation.