They have oil money and want to diversify their assets. It's part of the plan not to depend 100% on oil because their profits suffered during the last two years

They have oil money and want to diversify their assets. It's part of the plan not to depend 100% on oil because their profits suffered during the last two years as oil prices bottomed. They cannot kill the EV this time. The Saudis and UAE also invested in solar in the last few years. This is consistent with other Big Oil investments into renewables.