Page 311 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/25/24, 10:53 AM H.E. Bin Touq Holds Meeting With Peec Mobility To Learn About The Company's Plans For UAE Market & Contributions To Adva…
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.

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