Page 292 - MOE ENGLISH PR REPORT- NOVEMBER 2024

Peec Mobility invests $12 million in conversion

venture

Bin Touq meets company officials to discuss plans for UAE market
Published: Wed 20 Nov 2024, 10:10 PM

• By WAM

Peec Mobility, a UAE-based firm specialising in converting gasoline cars into electric vehicles, has
invested $12 million in its business and expects demand to grow.
Abdulla bin Touq Al Marri, Minister of Economy, held a meeting with Peec Mobility officials to learn
about the company’s future plans for the UAE market and their contribution to promoting the
circular economy and sustainable transportation.

The meeting forms part of the Ministry’s broader strategy to enhance dialogue with the private
sector as part of the newly launched economic engagement initiative.

During the meeting, Bin Touq highlighted that the UAE places significant emphasis on advancing
policies and initiatives that support the transition to a circular economy in line with global best
practices. A key initiative in this regard is the “UAE Circular Economy Policy 2031,” which recognizes
the private sector as a key contributor to the achievement of its goals.

https://www.khaleejtimes.com/business/auto/peec-mobility-invests-12-million-in-conversion-
venture-2