SEC and Japan firms sign deal to implement ‘Electric Car Pilot Project’ in the Kingdom

Representatives of SEC and three Japanese firms during the agreement signing ceremony.
Updated 18 January 2018
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SEC and Japan firms sign deal to implement ‘Electric Car Pilot Project’ in the Kingdom

The Saudi Electricity Co. (SEC) has signed a cooperation agreement with three Japanese firms to implement “Electric Car Pilot Project” in the Kingdom.
The projects aims to help reduce dependency on oil and boost environmental conservation standards by minimizing pollution associated with similar internal combustion engine (ICE) vehicles.
The agreement was signed by Khalid bin Saad Al-Rashed, executive vice president, engineering and projects, SEC, and officials of Tokyo Electric Power Company Holdings Inc., Nissan Motor Co. and Tecaoca Coco Energy Solutions Co.
Al-Rashed said the project is an important step to transfer modern technologies and use the electric energy in general and electric car technologies in particular.
He said the coming days will witness SEC’s additional efforts to assess utilization of such promising experiments.
The agreement also includes the development of a fast electric charger for vehicles.
Meanwhile, Nissan Co. announced it will lend SEC three electric cars while Tecaoca Coco Co. will provide it with three fast chargers, highlighting the international trend to expand usage of such cars.
According to the agreement, SEC will cooperate with three Japanese companies to study operation of electric cars in the Kingdom and adapting them to the environment and requirement of their operation.
The possibility of expanding the project and means of utmost utilization will be discussed in order to achieve the objectives and future plans, confirming that SEC is aiming to keep up with the latest technologies in the field of electric energy.
Over the past years, SEC has signed a number of agreements and memos of understanding (MoU) with leading Japanese companies to build strategic relations with international manufacturers.


New Balance opens store in Riyadh

Updated 13 October 2018
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New Balance opens store in Riyadh

American multinational corporation New Balance Inc. (NB), a global leader in athletic footwear, apparel and accessories, opened its new store in the Saudi capital on Thursday. The store, located in the high-end Riyadh Gallery Mall on King Fahd Road, showcases women’s and men’s shoes, apparel and sportswear, sports equipment, and kids and lifestyle selections.

Top Brazilian footballer Carlos Eduardo de Oliveira Alves, who plays for Saudi Arabia’s Al-Hilal Club, cut the ribbon to mark the opening of the New Balance store. The inaugural ceremony was attended by a large number of industry leaders and top-notch executives of Apparel Group, which owns and operates the New Balance stores in Saudi Arabia.

Speaking on this occasion, Alves said: “I am happy to open the store of New Balance, with which I have been associated.” 

The footballer, who recently signed a two-year contract with New Balance endorsing the brand, called on the shoppers “to visit the store where they will be led into an interactive and immersive experience of the brand, welcomed by dynamic visuals.”

Referring to the range of the New Balance Athletics Inc., a statement released on this occasion, said: “The New Balance’s Riyadh store is roomy and bright, and presents the brand’s footwear and apparel in a raw-concrete environment.” 

New Balance, the Boston-based maker of trainers and running shoes, is planning to aggressively expand its presence in the Gulf region, increasing its store count to 50 by 2020. 

“The launch of this store is the pinnacle of our progress in the Kingdom and the Middle East, but it is also just the start,” said the statement, adding that the Boston-based company is excited to announce the release of the 247v2. As a contemporary evolution, the updated silhouette makes a nod to NB heritage, while further representing the intersection between where lifestyle and sport meet, it said. 

Alves, who inaugurated the New Balance store, plays for the Al-Hilal Club as a midfielder. He joined Al-Hilal in 2015, scored several goals for the club and won many honors. 

New Balance Athletics Inc., popularly known as New Balance, is among one of the world’s major sports footwear makers. 

This $3.8 billion company, which has more than 5,000 employees globally on its payroll, manufactures shoes with high-technical specifications such as, blended gel inserts and heel counters.