Page 298 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/25/24, 10:50 AM Bin Touq, Peec Mobility discuss company’s UAE market plans – The Gulf Time Newspaper
Bin Touq, Peec Mobility discuss company’s UAE market

plans

ABU DHABI/ 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.”
The meeting discussed the technologies used to extend the lifespan of older gasoline-powered cars through converting them
to electric ones, as well as the company’s vision in bolstering the country’s initiatives to reduce carbon emissions and raise the
proportion of electric and hybrid vehicles to 50 percent of all vehicles on the roads by 2050.The meeting also served as an
opportunity to showcase the range of electric vehicles offered by Peec Mobility in the local market, available to both

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