Skip to content Skip to Search
Skip navigation

Dubai electric bike firm plans UAE expansion

By Divsha Bhat
electric bike delivery Pexels/Bruno Saito
Eco Way has partnered with companies including Talabat, Amazon, Deliveroo and Emirates Post Group in Dubai
  • EV market valued at $250m
  • Clients include Amazon and Deliveroo

Dubai last-mile delivery company Eco Way plans to replace the UAE’s many thousands of petrol motorcycles with electric bikes.

The startup currently operates 45 electric bikes in Dubai and has partnered with companies including Talabat, Pizza Hut, Amazon, Deliveroo, KFC and Emirates Post Group.

Founder Ivan Kroshny said Eco Way also wants to expand from Dubai into the whole UAE and the wider Gulf region.

Eco Way also offers a battery-swapping system, allowing couriers to swiftly replace discharged batteries, rather than waiting for a full charge that can take up to four hours, thus minimising downtime.

The UAE’s electric vehicles market revenue is predicted to hit $250 million in 2023, according to Statista, with an anticipated annual growth rate of over 8 percent. This trajectory is expected to culminate in a market volume of more than $370 million by 2028. 

The GCC last-mile delivery sector is expected to reach $1.85 billion in 2027, with a compound annual growth rate of 7.82 percent during the forecast period, the Indian market research firm Infinium Global Research said.

Latest articles

UAE’s RedBird IMI acquires UK TV producer for $1.5bn

RedBird IMI, A US investment management company partly owned by Abu Dhabi’s International Media Investments, has acquired All3Media, the UK’s largest independent TV production company behind hits such as Fleabag, The Traitors and Gogglebox. The for £1.15 billion ($1.5 billion) deal is the largest for RedBird IMI to date, the company said in a statement. […]

PIF's Starbucks shareholdings were cut almost by half from 6.3 million shares to 3.8 million

PIF slashes Starbucks stake as it cuts US stocks by $15bn

Saudi Arabia’s Public Investment Fund (PIF) has slashed its US equity holdings by 42 percent to $20.6 billion, including its stake in Starbucks, the global coffee chain that has suffered calls for a boycott as a result of the Gaza conflict. The latest US government data highlights funding challenges facing the Saudi giga-projects.  The filing […]

Tunisia olives

Soaring olive oil exports help Tunisia balance books

Tunisia’s soaring olive oil exports have almost doubled to close to $1 billion in just five months, helping it claw back its current account deficit.   However the increased revenues merely “paint over the cracks” and the country is still probably heading towards a sovereign default, according to an economic expert. Tunisia’s current account deficit narrowed […]

Iraqi prime minister Mohammed Shia Al-Sudani attends licensing rounds for 29 oil and gas exploration blocks at the oil ministry's headquarters in Baghdad

Falling oil prices deepen Iraq’s fiscal imbalances, says IMF

Iraq’s fiscal imbalances have worsened due to significant fiscal expansion and lower oil prices, according to the International Monetary Fund (IMF). “The ongoing fiscal expansion is expected to boost growth in 2024 at the expense of a further deterioration of fiscal and external accounts and Iraq’s vulnerability to oil price fluctuations,” the Washington-based fund said in […]