Abu Dhabi: - PWG investment company LLC, marked its participation in Abu Dhabi’s first annual Electric Vehicle Innovation Summit (EVIS), with an establishment of New Electric Vehicle business. This participation comes to complement PWGs efforts to work towards investing in an emerging sector such as high technologies in the capital.
The summit was held between the 23rd to the 25th of May at the Abu Dhabi National Exhibition Center (ADNEC), in partnership with Masdar, bringing together a vast number of electric vehicles companies, notable attendees, and delegates to utilize new chains of networks at the heart of EV technologies.
The summit featured noteworthy discussions to foster the transition of the Mena region towards sustainable mobility such as steering the adoption of electric vehicles that comes in parallel with UAEs pursuits such as the economic vision 2030 and UAEs energy strategy 2050. The discussions stressed the importance of committing to a Net-Zero future through clean transportation and renewable energy. The summit also provided well-rounded in-depth discussions such as the exponential developments, market and policy achievements, sustainable strategic solutions, EV market status globally and across the region, the ways of decarbonizing the energy supply chain, and the efforts in the ME on consumer awareness.
During the event, PWG known for its pivotal roles in upscaling and leveraging the UAE investment landscape played an imperative role in the summit through displaying their new energy vehicle (NEV) enterprise that aims to establish a holistic NEV ecosystem. NEV is known to be the most paramount projects of PWG. The company organized a showroom exhibiting “Mini Tiger Family Electric Vehicles” (A new low-carbon environmental car). The following symbolizes the company’s journey into accelerating the trend for a future of sustainable mobility and electrification.
Mr. Leo Liu, Chairman of PWG Investment LLC, a propitious figure in China, known for his pioneering ceaseless effort in accelerating successful investments, said: “We aim to establish a comprehensive NEV ecosystem in the UAE and Mena region through stakeholders and investors.” This falls under investing in 4 collaboration key components: trading, manufacturing, infrastructure, and R&D. “Initially, the focus will first be towards infrastructure and trading to establish the foundation for the ecosystem and testing for the market. The 4 pillars were thoroughly explained. Later the focus will shift towards R&D, Assembly lines, and manufacturing.”
The chairman added that China is being an industrial pioneer and ideal collaboration partner with the UAE in the new vehicle industry. “UAE and China are aligned in their priority in developing industrial sectors aiming to advance sustainable economic growth, deploy clean energy solutions, and thrive industrial innovations.” Leo said in his interview with Sky News Arabia TV network. Furthermore, the NEV investment can be an ideal contributor to “Make it in the emirates” initiative. UAE and China complement each other perfectly. “UAE is a pool of talents and China has excellent technologies. Therefore, merging both can help us achieve great production that can amaze the world,” Mohammad-Al Marzouki, the CEO of NEV, said.
The cooperation and partnership between UAE and Chinese institutions such as PWG marked a great success through NEV. The collaboration contributed to several future achievements such as sustainable mobility, employment opportunities and growth in the GDP. Most importantly, the recent achievement is signing a memorandum of understanding with emirates transport for the establishment of a joint venture.
PWG throughout the NEV project will continue to hit the ground running to set a benchmark for the future of electrification and sustainability. Also, further achievements are expected from PWG in the coming months as it continues to pioneer in investments that serve the UAE at the ultimate best.