The UAE has announced the launch of the Global EV Market, a transformational project that aims to integrate the energy and infrastructure sectors and align the work of public and private sector businesses to turn the emirates into a global hub for electric vehicles.

 

The Global EV Market is in line with the objective of the ‘We The UAE 2031’ vision of enhancing the position of the UAE as a global partner and an attractive and influential economic hub, reported Wam.

 

To support the project, the Ministry of Energy and Infrastructure (MoEI) signed several cooperation agreements with Etihad Water and Electricity (EtihadWE), Bee’ah Group, and the American University of Sharjah, as well as leading EV manufacturers and investors, including Audi, Siemens, BMW, Jaguar Land Rover, NEV Investment, Mercedes-Benz, General Motors, and Porsche.

 

Unveiling the new project, Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said: "The project comprises a comprehensive plan and an ambitious national programme to integrate the energy and infrastructure sectors and align the work of federal and local government entities and private sector businesses to turn the UAE into a global market for electric vehicles."

 

Through these agreements, the partners will cooperate to create incentives for people to own EVs, facilitate investment in the UAE network of electric vehicle charging stations, and install them across federal buildings and roads and MoEI’s truck rest stops, he stated in the presence of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

 

As per the agreements, MoEI’s private sector partners will play a key role in promoting EVs. They will invest in establishing EV charging stations and operate them, in addition to invest in setting up EV service centers across the country to offer dedicated services to EV owners, said Al Mazrouei.

 

"We seek to create a conducive environment for the growth of the EV market in the UAE through policy levers for investment and socio-economic and environmental incentive schemes. To support the shift to green mobility, we aim to increase the share of EVs to 50% of total vehicles on our roads by 2050," he added.

 

The minister pointed out that the project will facilitate green transport in the UAE and between the country and neighbouring Gulf countries through installing electric vehicle charging stations in all emirates and close to borderlines, facilitating cross-border travel for electric vehicle owners, said the Wam report.

 

"The Global EV Market project will support the objectives of the UAE Net Zero by 2050 Strategic Initiative, drive circular economy, and reduce the carbon footprint of the transport sector - a major carbon emitter and a target sector for the National Demand Side Management Program. We are confident it will contribute to enhancing the UAE’s global competitiveness in related indexes," he added.