Opportunities brought by the '2050 UAE Energy Strategy':

On November 4, 2024 local time in Dubai, UAE Minister of Energy and Infrastructure Suhail Mazruy announced that in order to meet sustainable energy needs, the UAE will invest 200 billion dirhams (approximately 54.4 billion US dollars) over the next six years, with plans to "decarbonize the economy and achieve net zero emissions by 2050.

UAE sets new target - electric vehicles will account for 50% by 2050

The leading initiative for decarbonizing commercial transportation in the United Arab Emirates has received support from the Ministry of Energy and Infrastructure (MoEI) and the Ministry of Climate Change and Environment (MOCCAE). Currently, the Road2.0 initiative is led by 17 signatories. These companies are testing and expanding the scale of commercial electric vehicles, and their UAE road transport fleet will achieve a decarbonization rate of 30% by 2030 and 100% by 2040.

By the end of this year, companies that have signed the Road2.0 initiative will deploy 90 commercial electric vehicles on UAE roads, with the goal of procuring 6000 zero emission electric vehicles (ZEVs) by 2030 and potentially expanding to 20000 by 2040, covering refrigerated trucks, ambient temperature vehicles, two wheelers, light and medium-sized trucks, buses, and other vehicles.

The stock market of electric vehicles in the UAE is limited, and China's Xiaopeng EV has already entered Dubai for sales and has its own 4S dealership.

This power and new energy exhibition is held at the Dubai World Trade Center and is one of the sub exhibitions among many exhibitions.

From the perspective of visiting companies, the main audience is from the Middle East, Africa, and South Asian countries, including Pakistan, Iraq, Bangladesh, Sudan, Zimbabwe, etc., mainly as trading companies or power and energy integrators.

Dubai is currently becoming a trade hub and intelligence and information distribution center in the Middle East and North Africa. According to the UAE Dragon City Chamber of Commerce, doing well in Dubai is doing well in the Middle East, which shows its importance.

There are many source countries for setting up offices or subsidiaries in Dubai, including other Middle Eastern countries, Africa, South Asia, and the CIS region. Dubai can expand the industry's circle of friends, collect project information and leads, and even business opportunities. Specific project implementation includes not only the United Arab Emirates, but also countries in the Middle East, Africa, South Asia, and other regions.

In Dubai and the Middle East, Indians make up about 50% of the total population, with the majority working on engineering projects. Some capable Indians have already established engineering companies in Dubai to undertake projects, making them a force that cannot be ignored. When Chinese enterprises step out, it is inevitable to cooperate with Indian engineering businessmen or entrepreneurs.

In terms of product demand and inquiries, energy storage is the main focus, especially household storage. Customers mainly come from countries with frequent power shortages and outages such as Africa and South Asia. Some also consult about charging piles. This exhibition has charging pile manufacturers from Shenzhen, Zhejiang and other places participating, with complete certification.

On the morning of December 17, 2024, we met with Mr. Hien Ta, the President of Vinfast, the first electric vehicle brand in Vietnam's Middle East region, in Dubai to exchange photos at the EV Show room. Mr. Faizi, CEO of Dubai Gems Gulf, also participated.

VINFAST's showroom in Dubai (located in a prime location on a street in the upscale 4S dealership district) is operated and sold by local dealers; Next to it are 4S stores such as Ferrari and Massaratti. In fact, the company has already signed local exclusive distributors in Oman and Qatar to assist with its sales. As Vietnam's first electric vehicle brand, VINFAST has released models such as VF6, VF7, VF8, and VF9. On December 17th, VINFAST and its dealers are conducting an event marketing campaign in the Dubai showroom, focusing on the release of the VF8 model. According to on-site investigations, the price is not low, with a total selling price of about 350000 RMB in Dubai.

In November 2024, VinFast and Charge&Go (a subsidiary of Etisalat) signed a memorandum of understanding powered by Charge&Go's top tier charging network. It is reported that Charge&Go's charging stations use ABB's cool high-power charging stations with large screens. According to Hien's introduction, the decision-making power for hardware procurement lies with the Vietnam headquarters company.