Emirates Transport and NEV Investment signed a Memorandum of Understanding (MoU) on May 24, 2022, at the Abu Dhabi National Exhibition Center during the Electric Vehicle Innovation Summit (EVIS), to formally establish a joint venture for the development, construction, marketing, operation and management of the New Energy Vehicle (NEV) project in the UAE.
The joint venture is a product of the acceleration of the new energy vehicle project in the United Arab Emirates, which has four key components: investment, infrastructure, R&D and manufacturing.
The project, which was launched to pave the way for electric vehicle production in the UAE, is part of the Make it in the Emirates campaign and Operation 300bn.
Emirates Transport and NEV Investment jointly attended EVIS as an exhibitor, with Henrey Mini Tiger as the lead NEV debuted at EVIS.
EVIS is the launch pad for NEV Investment and potential new Chinese vehicles to be introduced in the UAE.
Henrey Mini Tiger and NEV Investment also signed a collaboration agreement during the signing ceremony on May 24, following the signing of the Memorandum of Understanding between Emirates Transport and NEV Investment.
Faryal Tawakul, Acting CEO of Emirates Transport, said the company was proud to be part of this exciting development in the UAE automotive and transport industries. She said: “Emirates Transport has been a leader in the transport industry in the United Arab Emirates for over four decades and as an industry leader, it is fitting that we are at the forefront of this new era of electric vehicles. We are proud to share this journey with our private and public sector partners and look forward to playing a vital role in ensuring that the United Arab Emirates once again becomes a leader, both regionally and internationally, in new technologies. . » .
Leo Liu, Chairman of NEV Investment, expressed his delight with the official premiere of China’s NEV at EVIS and the event as a whole. He said: “As the UAE continues to make significant progress towards becoming a global leader in the renewable energy sector, we are excited to be a key player in building future industries by leveraging technologies. existing Chinese NEVs and introducing them to local as well as regional markets, together with Emirates Transport.
Emirates Transport is a public joint stock company established in 1981 and now operates under the umbrella of the Emirates Investment Authority. Having initially made a name for itself in the field of school transportation, ET has achieved significant investment growth and service diversification. Today, the company can offer its customers a range of services including transport, vehicle rental, car maintenance, logistics and the modification of cars in bi-fuel systems using CNG.
NEV Investment is a new energy vehicle investment company among strategic international investors and stakeholders in the UAE, aiming to establish a comprehensive NEV ecosystem in the UAE and MENA region, through the introduction of Chinese NEV including trade, R&D, infrastructure and manufacturing.