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Thursday, 1 September 2022

UAE may be getting more EVs

India’s Hinduja Group considers EV assembly line in UAE: India’s diversified conglomerate Hinduja Group may be eyeing an electric vehicle (EV) assembly line in the UAE after the launch of its EV company Switch Mobility, according to Gulf News. The company will start testing demand in the country for electric buses and light commercial vehicles.

To import or to assemble. That’s the question: Currently, Hinduja is looking into whether it plans to import EV from India and the UK, or having a local assembly line in RAK. The decision hinges on price points and demand for now.

But the company is hopeful that there’s the business case for local assembly: “We see huge potential for growth through Switch’s expansion in UAE and the GCC and look forward to launch our electric vehicles in these markets soon,” Hinduja said in a statement picked up by Zawya.

Should the decision go through, its EVs will likely be assembled at its Ras Al Khaimah automotive plant, because “we have an extensive vendor base supplying our existing operations,” executive chairman of Ashok Leyland Dheeraj Hinduja told Gulf News. The plant is a joint venture between Hinduja’s flagship brand for conventional bus assembly Ashok Leyland and the Ras Al Khaimah Investment Authority (RAKIA). It has an installed capacity of 4k buses a year and exports vehicles to African countries.

More about Hinduja: The Anglo-Indian transnational conglomerate is active in 11 sectors around the world and posted revenues of USD 50 bn in 2021. These sectors include automotive, oil and chemicals, banking and finance, IT, cybersecurity, healthcare, trading, infrastructure development, media, power and real estate.

Interest in the UAE’s EV market has been gaining momentum: M Glory Holding Group, a Dubai- based tech investor, is opening an EV manufacturing plant, The National News reported. The USD 408 bn facility will be one of the largest in the region and has the capacity to manufacture 55k EVs a year. Similarly, intelligent EV company NWTN has partnered with Sultan Investments to establish an EV assembly base in Khalifa Industrial Zone in Abu Dhabi.m:

Thanks to smart policy: In March, Abu Dhabi launched its regulatory policy for EV charging stations in a bid to attract investments in the sector and encourage consumers to buy and drive EVs. The UAE’s charging station to vehicle ratio is among the world’s highest, with the aim to have over 1K stations by 2025, according to a 2021 report by Clean and Energy Business Council MENA.

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