The UAE’s Al Futtaim Group launches new EV-focused company: UAE-based retail giant Al Futtaim Group has established an EV-focused company named Electric Mobility Company that combines an EV dealership, charging stations, and an after-sales hub for the country’s EV market, according to a company statement.

Al Futtaim already secured an EV supplier: The new company has partnered with Chinese automaker BYD as its first new energy vehicle partner, the company noted in a separate statement. BYD showcased 2 of its EVs — the Han and Atto 3 — during the Future Mobility Day event held in Dubai last week, where Al Futtaim unveiled the launch of the new EV dealership.

And signed an agreement for the supply of EV chargers with Siemens: Al Futtaim also signed an agreement with Siemens for the supply and deployment of its Charge2Moov EV charging stations, it said in a statement.

Not Al Futtaim’s first foray into the EV sector: Al Futtaim Automotive group, which is Volvo’s UAE representative, will introduce the Volvo EX90 — a 7-seater EV SUV — in the UAE as early as 2024. Al Futtaim expects the EV industry to grow at a CAGR rate of 30% over the next five years in the UAE, Zawya notes referencing a company release.