During the electric vehicle innovation summit (EVIS), Emirates transport and NEV investment signed a memorandum of understanding (MoU) at the Abu Dhabi National Exhibition Center on May 24. The signature stood for establishing a joint venture officially for the management, operation, construction, development, and marketing of the New Energy Vehicle project in the UAE.
The joint venture is a product byway of the acceleration of the New Energy Vehicles Project in the UAE, which has four key components: R&D, infrastructure, research, and investment, as well as manufacturing.
The project comes in an alignment with Operation 300bn and Make it in the emirates drive to establish the purpose of unfolding the way to produce electric vehicles in the region. As an exhibitor, NEV investment and Emirates Transport together attended EVIS, with Henry Mini Tiger being the key debuted. EVIS paves the way for potential Chinese energy vehicles to be deployed in the UAE.
During the signing ceremony, NEV Investment and Henry Mini Tiger have also signed a collaboration agreement.
Faryal Tawakul, Acting CEO of Emirates Transport, expressed her gratitude towards participating in the journey towards an innovative automotive future and new technology. She said: “Emirates Transport has been a leader in the transport industry in the UAE for over four decades and as an industry leader it’s fitting that we are now at the forefront of this new dawn of electric vehicles.”
“We are proud to share this journey with our partners from the private and public sectors and we look forward to playing a vital role in ensuring the UAE is again a leading light, both regionally and at the international level, when it comes to new technology”, added Tawakul.
Leo Liu, chairman at NEV Investment, stated his gladness for the launch pad of Chinese New Energy Vehicles in the UAE. He said: “As the UAE continues to make significant progress towards becoming a global leader in the renewable energy sector, we are delighted to be a key player in creating future industries by leveraging existing Chinese NEV technologies and introducing them to the local as well as regional markets, jointly with Emirates Transport.”