The two companies’ collaboration is for the development of a digital platform for electric vehicles.
Mubadala Investment Company PJSC (Mubadala) and ENGIE, a French worldwide energy leader, signed a Memorandum of Agreement on May 10, 2022, to explore the development of a digital platform for Electric Vehicles in Abu Dhabi and the Middle East region.
The agreement was signed by Badr Al Olama, Executive Director at UAE Investments in Mubadala, and Ian Harfield, Managing Director of ENGIE Energy Solutions (GCC).
Al Olama said in the agreement: “As a responsible investor, Mubadala is committed to driving sustainability in the UAE and the wider region by laying the foundation and advancing future-focused sectors in technology and mobility. Our agreement with ENGIE will support developing a digital platform for charging electric vehicles and creating accessible, safe and sustainable mobility solutions to support the UAE’s climate action plan.” –according to Emirates News Agency.
The transport sector is a significant contributor to the global carbon footprint. The development of electric vehicles is seen as key to supporting de-carbonizing the mobility sector.
The digital platform development for Electric Vehicles will be important for the UAE as the nation has made significant efforts in climate change. This will also help UAE achieve the Net Zero 2050 strategic initiative.
Harfield stated that by 2030, 60% of the global population would live in cities. Adoption of EVs will be important for reducing carbon emissions and pollutants in cities. He said: “The UAE, in particular, is leading the change towards independent electric cars in the region and targets to enter about 42,000 electric cars on its streets by 2030. This partnership with Mubadala is a commitment of our contribution to the UAE’s evolution towards green mobility,”