ABU DHABI, 17th June, 2023 (WAM) — The Abu Dhabi Department of Economic Development, ADDED, has partnered with Valeo to develop the automotive industry by establishing a technology center in Abu Dhabi to manufacture autonomous and Electric vehicle components. The center will develop industrial solutions to support local electric vehicle start-ups in Abu Dhabi and collaborate with local Startups Electric Vehicle Company.
Valeo plans to combine its advanced technology with the sustainable development vision of green cities to explore new areas of development.
The agreement to design and manufacture components for electric and autonomous vehicles will improve smart and sustainable mobility and contribute to the development of the transport sector, which is part of the Abu Dhabi Industrial Strategy (ADIS) and its initiatives (including Industry 4.0′) Innovative technologies driving Abu Dhabi’s transformation to a smart, circular and sustainable economy, one of the targeted sub-sectors.
Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, attended the signing ceremony of the agreement, which was signed by Arafat Al Yafei, Executive Director of the Industrial Development Board (IDB), ADDED’s branch for the development of the industrial sector in Abu Dhabi, and Deputy Director of the Group Technology Center. Tamer Aly, President and General Manager of Valeo Egypt, in Abu Dhabi.
Arafat Al Yafei, Executive Director of the Industrial Development Board (IDB), said: “We look forward to taking action with Valeo on this agreement as part of our ongoing efforts to achieve the ambitious goals of the Abu Dhabi Industrial Strategy (ADIS). Abu Dhabi’s collaboration to develop smart mobility and establish a technology hub for electric and autonomous vehicle components is in line with our move to ensure growth, sustainability and advanced technology go hand in hand in all aspects of our socio-economic development”
Tamer Aly said: “I am very pleased with the signing of this MoU, which allows Valeo, a market leader in the design and production of high-tech automotive components for autonomous and electric vehicles, to have a presence in Abu Dhabi, leveraging their components and technology to respond to the growing automotive industry in Abu Dhabi and transfer this experience to Abu Dhabi’s high-tech and advanced education society.”