Page 307 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/25/24, 10:52 AM H.E. Bin Touq holds meeting with Peec Mobility to learn about the company's plans for UAE market & contributions to advancing …
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.

H.E. 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. The meeting helped us explore ways to foster collaboration in the
adoption of innovative solutions that align with the nation’s goals of providing a wide range of smart and sustainable

transportation options, especially since it boasts an advanced infrastructure for electric vehicles in the local market.'

Mr. Ahmed Zachariah Faizal, CEO and Founder of Peec, said: 'We’ve had a deep belief from the day we started
Peec that the UAE is the perfect place for an innovation like ours. There is a mutual resonance with the idea that an
economy isn’t just a representation of the country’s monetary value but equally a symbol of the values of which its

society lives by. To go beyond the desire to electrify vehicles and step into the world of repurposing existing ones to
electric presents a society that looks deeper than the surface of things and proposes solutions that create practical,
immediate, and impactful results.”

He added: “In a world where shared transport is a crucial part of better quality of life within our cities, we have the
ambition of creating a new narrative for the UAE’s 40,000 public taxis, 16,000 school buses, and 2,000 public buses.

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 per cent 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 individuals and businesses at competitive prices, as well as the company's growth
trajectory since its founding in 2020, with investments totaling $12 million.

https://www.dubaiprnetwork.com/pr.asp?pr=182335 2/2