BEIJING, July 21 ( TiPost ) ― The United Arab Emirates ( UAE ) ’ s ambitious target may encourage Chinese electric vehicle ( EV ) companies to ramp up their expansion in the Middle East, pa【【微信】】h.

Credit：Visual China

The UAE aims to have 50% of all 【【微信】】e electric ones by 2050, as part of the National Electric 【【微信】】ly approved by the UAE Cabinet, Suhail Al Mazrouei, the Minister of Energy and Infrastructure, said last week. The official elaborated the new policy would support growth of the E【【微信】】ountry achieve its goal of reducing energy consumption by 40% and carbon emissions by 10 million tons. He said the cabinet plans to establish a nationwide network of E【【微信】】.

Earlier this month, Dubai, one of UAE ’ s emirates un【【微信】】ost eco-friendly infrastructure. Dubai planned to increase E【【微信】】e emirate from 370 to more than 1,000 stations in less than three years, expanding a network of public charging stations by 170% by 2025.

UAE was ranked the eighth in E【【微信】】uring 2022, according to the Global Electric Mobility Readiness Index 2022 compiled by Arthur D Little. The international consultant firm projected demand for E【【微信】】ound annual rate of 30% from 2022 to 2028.

Emerging E【【微信】】hange landscape of UAE ’ s auto industry in the coming two years, and new policies to bolster E【【微信】】ortunities for Chinese companies, commented the Global Times. The Chinese the state-backed newspaper cited achie【【微信】】omakers made these years: Hong【【微信】】t full electric SUV model that the supercar fleet of Dubai Police adopted in last October ; Geely ’ s electric commercial unit Farizon recei【【微信】】 of 1,000 electric Super【【微信】】ity, a leader of eMobility based in UAE; BYD launched ATTO 3, the first A-class SU【【微信】】-Platform 3.0, in UAE last month. ATTO 3, also known as Yuan PLUS launched in China, has been passed a series of high-temperature tests that BYD conducted to ensure optimal performance in the typical climate of UAE market.

UAE capital also sought to find Chinese partners to explore huge opportunities for de【【微信】】. Nio Inc announced last month that it secured a new funding of US$1.1 billion from Abu Dhabi. CY【【微信】】.C., an investment vehicle majority owned by the Abu Dhabi Go【【微信】】, agreed to subscribe 84,695,543 newly issued Class A ordinary shares for US$8.72 per share, suggesting an in【【微信】】$738.5 million. CY【【微信】】ent to purchase 40,137,614 Class A ordinary shares owned by an affiliate of Tencent, one of Nio ’ s existing shareholders. In addition, CYNV, 【【微信】】d smart mobility, agreed to jointly pursue opportunities in NIo ’ s international business.

The in【【微信】】trengthen Nio ’ s balance sheet to power its continuous endea【【微信】】siness growth, dri【【微信】】ovations and building long-term competiti【【微信】】, William Li said. CYVN ’ 【【微信】】s in NIO are driven by its appreciation of its leading brand, inno【【微信】】ucts, and pro【【微信】】bilities in the smart electric 【【微信】】, CYVN Chairman and Managing Director Jassem Al Zaabi said. He said his company is fully committed to pro【【微信】】 that will support NIO ’ s international business growth.

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