Saudi Arabia’s initiative to introduce electric cars to its market will not threaten the oil industry, according to Energy Minister Khalid Al-Falih, Arab News reported.
“This is still in the study phase. Are electric vehicles going to doom oil? Is it going to impact the energy sector? The answer is no because electric vehicles are only going to be economic in the light transport sector,” Al-Falih explained in his remarks during the inaugural Saudi Energy Forum (SEF) in Riyadh.
Research has been carried out by experts to study the use of hydrogen fuel cells to power vehicles, using the emerging technology to accelerate the Saudi Kingdom’s 2030 strategic vision for a diversified economy.