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
EXCLUSIVE Logistics Dubai company’s EVs aim to deliver ‘last mile’ in 100 cities Dubai company One Moto, which aims to decarbonise “last mile” deliveries using electric vehicles, has said it plans to serve 100 cities by 2028. After launching the company in the UAE, serial entrepreneur Adam Ridgway has gained a foothold in the UK, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal and Ethiopia. It is in talks […] October 3, 2023
Opinion Sustainability Forecast bright for Cop28 as the world nears ‘peak green’ A mood of pragmatism seems to be sweeping Europe and North America September 25, 2023
Manufacturing Lucid gets permit to operate in new Saudi economic zone Saudi Arabia’s Economic Cities and Special Zones Authority has issued US electric vehicle maker Lucid Group a permit to operate a manufacturing unit at the newly-launched King Abdullah Economic City (KAEC) special economic zone. “This marks a successful kickoff for the new SEZs launched earlier this year, showcasing a promising avenue for innovation and growth,” […] September 22, 2023
Trade Exeed joins Chinese push to corner UAE EV market Another brand name is about to join the growing list of Chinese electric vehicles available in the UAE, with premium sports utility vehicle Exeed ready to enter the market in the next two years. AG Auto, an automobile subsidiary of Dubai-based family conglomerate Al Ghurair Investment, is the exclusive distributor for Exeed in the UAE. […] August 24, 2023
Transport Dubai company to invest $500m in Chinese EV maker UAE company NWTN has announced a deal to invest $500 million in the Chinese manufacturer of electric vehicles including the Hengchi brand. The investment in China Evergrande New Energy Vehicle Group aims to accelerate NWTN’s development in the EV space as it establishes an assembly plant in UAE capital Abu Dhabi. Headquartered in Dubai, the eco-conscious […] August 16, 2023
Opinion Manufacturing Global EV manufacturers rev up for Gulf race There is a way to go before electric vehicles overtake fossil fuel cars August 14, 2023
Industry Sabic thermoplastic is key to electric car speed record As it flew around a track at the 2023 Hankook London E-Prix last month, electric race car Genbeta reached nearly 219 kilometres per hour, setting a new Guinness World Record for the fastest speed achieved by a vehicle indoors. Saudi Arabian petrochemicals giant Sabic developed thermoplastic materials to improve the performance of the vehicle – […] August 9, 2023
