ADIO Partners with Gridserve to Fuel Growth of UAE's EVs
The UAE has ambitious goals to transition 50% of its vehicles to electric power by 2050.
The Abu Dhabi Investment Office (ADIO) has joined forces with British sustainable energy firm Gridserve to propel the expansion of the electric vehicles (EVs) and smart mobility sectors in the UAE, ADIO said in a press release.[1]
The announcement was made on the sidelines of the COP28 climate summit in Dubai, which closes tomorrow.
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The partnership integrates Gridserve with the recently established Smart and Autonomous Vehicles Industry (SAVI) Cluster.
The SAVI Cluster, unveiled in October of this year and centered around the clean energy hub Masdar City, is set to develop smart and autonomous vehicles for air, land, and sea use.
Projections indicate that SAVI could contribute between Dh90 billion and Dh120 billion ($24.5 billion to $32.7 billion) to the UAE's economy, generating up to 50,000 jobs.
The UAE has ambitious goals to transition 50% of its vehicles to electric power by 2050.