Page 296 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/25/24, 10:50 AM Bin Touq, Peec Mobility officials discuss company’s plans for UAE
Conservation Campaign ‘Save to Sustain’. Through such events, we seek to encourage youth to
become leaders of change and key contributors to our sustainability agenda.”

He added, “We are also happy to see our EV market growing steadily as we plan to increase the
share of electric and hybrid vehicles to 50% of total vehicles on our roads by 2050. To achieve this
goal, we are constantly expanding our network of EV charging stations and offering a package of
incentives that make EVs more appealing to customers. In 2023, 13% of total car sales were electric
vehicles.

We expect the trend to continue in the coming years. So, we launched UAEV, the first electric vehicle
charging company wholly owned by the UAE government, in line with the country’s vision for a
greener future and the commitment to reducing carbon emissions in the transportation sector.

WAM

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, under the directives of its wise leadership,
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.

It focuses on embedding sustainable practices across key sectors, including sustainable transport,
manufacturing, food, and infrastructure, ensuring the country’s resilience to climate change and
supporting its broader economic and social development goals.

He stated, “The ongoing transformation of the country’s transportation systems into more sustainable,
eco-friendly models is a key aspect of our efforts to reduce fuel consumption and cut carbon
emissions. The meeting with Peec Mobility is a crucial step in strengthening cooperation in circular
economy practices and gaining insights into the latest advancements in the electric vehicle sector.”

Ahmed Zachariah Faizal, CEO and Founder of Peec, believed the UAE is the ideal environment for
innovative ideas like theirs. He explained that the UAE’s emphasis on societal values aligns with
Peec’s mission to not only electrify vehicles but also repurpose existing ones.

He added, “We want to represent the power and value of circularity in a modern society through the
shared transport vehicles of this country that we will repurpose. It is an initiative that we hope the
UAE can spark the transformation globally and inspire other countries to live by as it so often does.”

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