Manufacturing Cobalt refinery to support Saudi EV ambitions A European mining company has announced plans to develop a refinery in Saudi Arabia to process cobalt hydroxide into cobalt sulphate, which is used in electric vehicle (EV) batteries. Luxembourg-based Eurasian Resources Group (ERG) said the project aims to strengthen its position as a strategic supplier to the chemicals sector, particularly in batteries for EVs. […] January 16, 2024
Manufacturing Dubai EV maker pulls out of $500m Chinese deal Dubai’s electric vehicle maker NWTN has pulled out of a deal to invest $500 million in Evergrande, a Chinese EV manufacturer. NWTN, which operates an electric vehicle assembly facility in Abu Dhabi, said it has terminated plans to buy 27.5 percent of the shares of China Evergrande New Energy Vehicle Group. Evergrande was established in 2019 […] January 9, 2024
Sustainability Oman targets 22,000 EVs on its roads by 2030 Oman plans to have 22,000 electric vehicles on the road by 2030 as part of its decarbonisation strategy, according to local media. A combination of technological advancements and robust charging infrastructure will accelerate the adoption of EVs, Oman Daily Observer reported, citing Said Hamood Al Maawali, the minister for transport, communications and IT. “The public […] January 1, 2024
Analysis Transport Turkey’s EV production finally gets into gear Turkey has long been a manufacturing base for the global auto industry, producing vehicles for more than a dozen industry giants such as Ford, Toyota and Renault. Its transition into electric vehicle (EV) manufacturing has been slow to materialise, but the country is now making up for lost time. First announced in 2017, 2023 saw […] December 29, 2023
Transport Dubai electric bike firm plans UAE expansion 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 […] December 27, 2023
Manufacturing Saudi and Morocco vie for lead in Mena EV race Two clear frontrunners in the global electric vehicle race have emerged in the Middle East and North Africa region. Both Saudi Arabia and Morocco have accelerated efforts to develop their EV capabilities in 2023, with a series of multi-million-dollar investments and partnership deals. The two kingdoms see the EV industry as central to achieving economic […] December 22, 2023
Video length: 04:59 Transport Gulf’s cheap petrol slows take-up of electric bikes Almost 20 percent of the new cars sold this year are electric, according to the International Energy Agency, while e-bikes are becoming a familiar sight in cities around the world. The Middle East is behind China, the US and Europe on mass adoption, despite the lower operating costs and lower emissions of electric vehicles (EVs). […] December 20, 2023
Renewable Energy PIF-backed Eviq plans to deploy 5,000 EV chargers Saudi Arabia has opened its first research and development facility to establish the country’s electric vehicle (EV) fast-charging infrastructure. Electric Vehicle Infrastructure Company (Eviq) – the newly launched joint venture between the Public Investment Fund (PIF) and Saudi Electricity Company – opened the facility in Riyadh. The company is on track to deploy 5,000 chargers […] December 18, 2023
Transport UAE motorcycle rental firm invests in EV chargers Easy Lease Motor Cycle Rental has acquired 60 percent of electric vehicle charger manufacturer, supplier and installer Fully Charged. Since 2020 Dubai-based Fully Charged has installed more than 5,000 charging devices across the UAE for businesses including Damac, Dubai Holding and Emirates. Easy Lease, listed on Abu Dhabi’s secondary market, wanta to double that number […] December 6, 2023
DUBAI AIRSHOW Aviation Neom flying taxis ‘should be ready by 2026,’ says developer Neom could have “flying taxis” in the air by 2026 if testing and regulatory work stays on track, according to the company developing them for the Saudi giga-project. Borja Blond, CEO of the joint venture between Neom and German manufacturer Volocopter, said it ran successful test flights in the summer and was working with the […] November 16, 2023
Retail Adnoc Distribution reports 9% quarterly profit rise Adnoc Distribution’s third-quarter net profit rose 9 percent year on year, boosted by double-digit growth in fuel volumes and non-fuel business, the company said in a results announcement this week. The UAE’s largest fuel and convenience retailer, listed on the Abu Dhabi Securities Exchange, reported a net profit of AED835 million ($227 million) and a […] November 10, 2023
Transport Neo seeks $30m to drive ambitious EV plans “Last-mile” logistics company Neo Mobility is launching in Dubai next month with a fleet of 100 electric two-wheeler vehicles. The company secured $10 million in pre-launch seed funding from investors including green asset financing platform Delta Corp Holding. It is now in talks to raise $30 million to finance growth plans which includes a vehicle […] November 9, 2023
Industry PIF in talks to invest $250m in Chinese EV company Saudi Arabia’s Public Investment Fund (PIF) is discussing investing $250 million in Chinese electric vehicle (EV) maker Human Horizons Group. The kingdom’s sovereign fund’s investment could potentially value the Shanghai-based company at $3 billion, Bloomberg reported, citing informed sources. An agreement is likely to be reached by the end of the year, but it could […] November 8, 2023
Analysis Renewable Energy Startup touts alternative EV batteries for Saudi industry A startup developing non-lithium batteries for electric vehicles (EVs) says they are better suited to Gulf climates where flammability is a risk. But industry experts say it will be difficult to penetrate the car industry where lithium options are baked into budgets. Mukesh Chatter, founder of Alsym Energy, argued his case to regional political and […] November 1, 2023
Manufacturing Talks under way to build EV battery plant in Abu Dhabi China’s Sunrise New Energy is in talks with South Korea’s LG Energy and UAE’s sovereign Abu Dhabi Investment Fund for a potential partnership to set up a lithium battery material manufacturing facility in Abu Dhabi. The anticipated annual production capacity will be 50,000 tonnes of anode materials, the Chinese lithium-ion battery producer said in a […] October 25, 2023
Industry Work to begin in 2024 on Hyundai’s $500m Saudi car plant A joint venture between Saudi Arabia’s Public Investment Fund and Hyundai Motor Company is expected to break ground on its first vehicle manufacturing plant next year. The sovereign fund will hold a 70 percent stake in the venture, with the South Korean car giant holding the rest. Vehicle production is due to start in 2026. The […] October 23, 2023
Opinion Sustainability Seven steps to reducing the Gulf’s emissions All GCC nations are in the top 10 of global polluters. This is what they can do about it October 19, 2023
Transport Red Sea Global installs Saudi Arabia’s largest EV charging network Saudi developer Red Sea Global has installed what it says is the kingdom’s largest off-grid electric vehicle charging network. The network includes more than 150 charging stations spread across phase one of the Red Sea project. The stations are strategically located to keep Red Sea Global’s initial fleet of 80 electric Lucid and Mercedes vehicles […] October 17, 2023
Transport US developer to build flying taxis in Abu Dhabi The day is drawing closer when a taxi ride between Dubai and Abu Dhabi takes only twenty minutes in an aircraft built in the UAE. A US developer of electric vertical takeoff and landing (eVTOL) aircraft has signed an agreement with the Abu Dhabi Investment Office (ADIO) to set up a manufacturing centre in Abu […] October 16, 2023
Transport Abu Dhabi plans centre for autonomous vehicle industry Abu Dhabi has unveiled plans to establish a centre for smart and autonomous vehicle industries which aims to add up to AED120 billion ($33 billion) to the UAE economy. Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has endorsed the project, which seeks to generate 50,000 jobs. Sheikh Khaled said it is part […] October 11, 2023
Manufacturing PIF sets up unit to localise Saudi automotive sector Saudi Arabia’s Public Investment Fund (PIF) has launched the National Automotive and Mobility Investment Company (Tasaru Mobility Investments) to build local manufacturing and supply chain capabilities for the automotive and mobility industry in the kingdom. The new company will be responsible for strategic investments and partnerships with both local and global private sector companies. The […] October 11, 2023
Manufacturing Chinese cash to supercharge Morocco’s EV battery sector Morocco’s plan to become a centre for electric vehicle manufacturing has received a boost from two Chinese companies, as the kingdom benefits from the cooling relations between Beijing and Washington. CNGR Advanced Material, a Chinese manufacturer of battery components, announced last month that it would join forces with Al Mada, a conglomerate owned by the […] October 10, 2023
