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To achieve sustainable industrial development and promote electric mobility, the Ministry of Industry and Advanced Technology (MoIAT) has signed a Letter of Intent (LoI) with Shahin, a new company being set up in Abu Dhabi by NEV Enterprise, a prominent GCC .
The letter of intent, signed at the UAE Forum on Wednesday, underscores the country’s commitment to decarbonizing and increasing the industrial sector’s contribution to climate action and economic growth.
The LoI represents a strategic partnership focused on the development, maintenance and operation of the UAE Charging Station Factory, the first of its kind in the region, to meet the growing local and regional demand for Electric Vehicle (EV) charging infrastructure.
According to the Global Electric Vehicle Readiness Index (2022), the demand for electric vehicles in the UAE market has been rising over the past few years and is expected to grow at a CAGR of 30% between 2022 and 2028.
The report shows that the UAE, with more than 300 charging stations, has one of the highest charging station-to-vehicle ratios in the world.
The LoI marks a major step forward for the future of sustainable transport infrastructure in the UAE, in line with the country’s Net Zero by 2050 strategic initiative, which Shahin aims to meet 40% of the UAE’s direct current (DC) charging needs by 2030.
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The signing ceremony was witnessed by Her Excellency Sarah Al Amiri, Minister of State for Public Education and Advanced Technology.
Tariq Al Hashimi, Director of Technology Adoption and Development, signed the letter of intent on behalf of MoIAT, “This collaboration is aligned with the UAE’s 2050 Net Zero Strategic Initiative and 2023 Year of Sustainable Development.
By actively contributing to the development of a strong electric vehicle ecosystem, this partnership will have a meaningful impact on our sustainability and decarbonization agenda, while supporting local and advanced technology-driven economic growth. “
NEV Enterprise CEO Ramzi Kuhail signed on behalf of the new company. He said: “We are delighted to partner with the Ministry of Industry and Advanced Technology (MoIAT) in our joint efforts to advance the manufacturing of electric vehicle charging stations in the UAE.
“This reflects our shared commitment to sustainable mobility and positions the UAE as a key player in the global transition to electric mobility.”
Emiratization and supporting local talent
Under the LoI, Shahin will also work with local higher education institutions to focus on research and develop young Emirati talent through apprenticeships and job opportunities, ensuring Shahin achieves 20% Emiratization across its UAE operations.
MoIAT will play a key role in supporting Shahin’s efforts. By facilitating linkages with local manufacturers, MoIAT will facilitate the localization of the EV charging station supply chain.
Finally, the ministry will support the company in obtaining offtake rights for locally manufactured electric vehicle charging stations.
Enter the UAE Forum
Organized by the Ministry of Industry and Advanced Technology (MoIAT) in conjunction with the Abu Dhabi Department of Economic Development, the forum brought together stakeholders from across the industry under the 300 billion action plan.
More than 2,000 senior decision-makers, industry and technology leaders, experts, innovators, entrepreneurs, financial institutions, investors and representatives of businesses from major countries gathered in Abu Dhabi to identify new opportunities and announce new partnerships.
This year’s forum, which takes place ahead of COP28, has a special focus on sustainable industrial development to align with the UAE’s efforts to tackle climate change and to realize the government’s initiative to mark 2023 as the year of sustainable development.
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