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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 - Middle East News 247
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.

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