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UAE forms EV joint venture

20 May 2024

Two government entities in the UAE have formed a company, UAEV, to develop electric vehicle (EV) charging infrastructure across the country.

The joint venture aims to provide fast and affordable charging infrastructure, said Sharif Salim Al Olama, undersecretary for energy and petroleum affairs at the of Energy & Infrastructure Ministry.

Al Olama is chairman of the newly formed joint venture.

Etihad Water & Electricity (Etihad WE), the partner for the joint venture, provides utility services in the UAE's northern emirates.

Etihad WE CEO Yousif Ahmed Al Ali is a board member of UAEV.

"Our intention is for the first UAEV charging points to be operational this year," said Al Olama during the launch of the company at the ongoing Electric Vehicle Innovation Summit in Abu Dhabi.

MEED understands the company aims to install 100 EV chargers across the UAE by the end of the year, starting in the Northern Emirates of Ajman, Ras Al Khaimah, Umm Al Quwain, Fujairah and Sharjah.

UAEV also plans to invest in similar infrastructure in Dubai and Abu Dhabi.

It expects to roll out 1,000 charging stations by 2030.

The company aims to set up several tiers of EV charging stations.

The initial tier caters to locations such as mosques and supermarkets, while another set of chargers will be installed in parking areas and on streets to ensure that drivers can top up their batteries whenever necessary.

UAEV also aims to build what it calls "EV hubs", catering to cities and larger communities with wider services.

UAEV will use fast and ultra-fast charging solutions to accelerate EV adoption. "We will provide advanced charging options to make EV ownership more appealing," said Al Ali.

The initial phase of the infrastructure rollout will cater to passenger vehicles.

Plans could extend the services to commercial vehicles and maritime fleets, as well as potentially providing hydrogen fuel to trucks and other types of fleet.

Al Olama confirmed that discussions are under way to unify EV charging tariffs between the emirates.

"This partnership is part of a clear mandate to deliver green mobility. There is a great potential and need from end-users," Al Olama said. "It is also an important step to help meet the UAE net-zero target by 2050."

MEED's April 2024 special report on the UAE includes:

> COMMENT: UAE rides high on non-oil boom
> GVT & ECONOMY: Non-oil activity underpins UAE economy
> BANKING: UAE banks seize the moment
> UPSTREAM: Adnoc oil and gas project spending sees steep uptick
> DOWNSTREAM: UAE builds its downstream and chemical sectors
> POWER: UAE marks successful power project deliveries
> WATER: Dubai tunnels project dominates UAE pipeline
> DUBAI CONSTRUCTION: Dubai real estate boosts construction sector
> ABU DHABI CONSTRUCTION: Abu Dhabi makes major construction investments

https://image.digitalinsightresearch.in/uploads/NewsArticle/11792353/main4504.jpg
Jennifer Aguinaldo

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