logo

Smart Mobility, IM Motors to expand business in UAE, Saudi Arabia

Zawya10-04-2025

UAE - Smart Mobility International (SMI), a distributor of New Energy Vehicles in the UAE, signed a deal with Chinese EV manufacturer IM Motors to launch premium EVs in the UAE and Saudi Arabia, starting with the IM LS7 SUV.
The agreement marks IM Motors' entry into the GCC market, starting with the UAE and with plans to expand into Saudi Arabia later this year, according to a press release.
This partnership aligns with the UAE's national EV goals, which aim for 50% of all vehicles on the road to be electric by 2050.
Moutaz Louis, CEO of Smart Mobility International, commented: "As the exclusive distributor of IM Motors in the UAE and Saudi Arabia, we're not just launching a new brand - we're shaping a future defined by intelligent mobility, premium performance, and a deep commitment to sustainability."
The IM LS7 will be available first in its Battery Electric Vehicle (BEV) version, with a range-extended model to follow.
Additional models, including the IM L7 sedan and IM LS6 SUV, will launch later in 2025 in both BEV and Range-Extended Electric Vehicle (REEV) variants, increasing the portfolio of premium EVs available to consumers in the region.
Source: Mubasher

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump and Xi agree to further talks to settle trade disputes
Trump and Xi agree to further talks to settle trade disputes

Dubai Eye

time2 hours ago

  • Dubai Eye

Trump and Xi agree to further talks to settle trade disputes

US President Donald Trump and Chinese leader Xi Jinping agreed to further talks between the countries to hash out differences on tariffs that have roiled the global economy, according to US and Chinese summaries of their phone call on Thursday. "There should no longer be any questions respecting the complexity of Rare Earth products," Trump wrote on social media. "Our respective teams will be meeting shortly at a location to be determined." Trump and a Chinese government summary of the meeting said the leaders had invited each other to their respective countries at a future date. "The US side should take a realistic view of the progress made and withdraw the negative measures imposed on China," the Chinese government said in a statement published by the state-run Xinhua news agency. "Xi Jinping welcomed Trump's visit to China again, and Trump expressed his sincere gratitude." The highly anticipated call came amid accusations between Washington and Beijing in recent weeks over "rare earths" minerals in a dispute that has threatened to tear up a fragile truce in the trade war between the two biggest economies. The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump's January inauguration. Though stocks rallied, the temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and US complaints about China's state-dominated, export-driven economic model. Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives, who say the uncertainty has made it difficult to forecast market conditions. China's decision in April to suspend exports of a wide range of critical minerals and magnets continues to disrupt supplies needed by automakers, computer chip manufacturers and military contractors around the world. Beijing sees mineral exports as a source of leverage - halting those exports could put domestic political pressure on the Republican US president if economic growth sags because companies cannot produce mineral-powered products. The 90-day deal to roll back tariffs and trade restrictions is tenuous. Trump has accused China of violating the agreement and has ordered curbs on chip design software and other shipments to China, while also doubling steel and aluminum tariffs to 50 per cent. Beijing rejected the claim and threatened counter-measures. In recent years, the United States has identified China as its top geopolitical rival and the only country in the world able to challenge the US economically and militarily. Despite this and repeated trade threats and tariff announcements, Trump has spoken admiringly of Xi, including of the Chinese leader's toughness and ability to stay in power without the term limits imposed on US presidents. Trump has long pushed for a call or a meeting with Xi, but China has rejected that as not in keeping with its traditional approach of working out agreement details before the leaders talk. The US president and his aides see leader-to-leader talks as vital to sort through log-jams that have vexed lower-level officials in difficult negotiations. Thursday's call came at Trump's request, China said. It's not clear when the two men last spoke. Both sides said they spoke on January 17, days before Trump's inauguration and Trump has repeatedly said that he had spoken to Xi since taking office on January 20. He has declined to say when any call took place or to give details of their conversation. China had said that the two leaders had not had any recent phone calls. The talks are being closely watched by investors worried that a chaotic trade war could cut into corporate earnings and disrupt supply chains in the key months before the Christmas holiday shopping season. Trump's tariffs are also the subject of ongoing litigation in US courts. Trump has met Xi on several occasions, including exchange visits in 2017, but they have not met face to face since 2019 talks in Osaka, Japan. Xi last traveled to the US in November 2023, for a summit with then-President Joe Biden, resulting in agreements to resume military-to-military communications and curb fentanyl production.

US trade deficit narrows sharply in April, imports post record drop
US trade deficit narrows sharply in April, imports post record drop

Dubai Eye

time2 hours ago

  • Dubai Eye

US trade deficit narrows sharply in April, imports post record drop

The US trade deficit narrowed sharply in April, with imports decreasing by the most on record as the front-running of goods ahead of tariffs ebbed, which could provide a lift to economic growth this quarter. The trade gap contracted by a record 55.5 per cent to $61.6 billion, the lowest level since September 2023, the Commerce Department's Bureau of Economic Analysis said on Thursday. Data for March was revised to show the trade deficit having widened to an all-time high of $138.3 billion rather than the previously reported $140.5 billion. Economists polled by Reuters forecast the deficit narrowing to $70.0 billion. The goods trade deficit eased by a record 46.2 per cent to $87.4 billion, the lowest level since October 2023. A rush to beat import duties helped to widen the trade deficit in the first quarter, which accounted for a large part of the 0.2 per cent annualised rate of decline in gross domestic product last quarter. The contraction in the deficit, at face value, suggests that trade could significantly add to GDP this quarter, but much would depend on the state of inventories. Imports decreased by a record 16.3 per cent to $351.0 billion in April. Goods imports slumped by a record 19.9 per cent to $277.9 billion. They were held down by a $33.0 billion decline in imports of consumer goods, mostly pharmaceutical preparations from Ireland. Imports of cellphones and other household goods fell $3.5 billion. Imports of industrial supplies and materials declined $23.3 billion, reflecting decreases in finished metal shapes and other precious metals. Motor vehicle, parts and engines imports fell $8.3 billion with passenger cars accounting for much of the decline. The front-loading of imports is probably not over. Higher duties for most countries have been postponed until July, while those for Chinese goods have been delayed until mid-August. President Donald Trump's administration had given US trade partners until Wednesday to make their "best offers" to avoid other punishing import levies from taking effect in early July. Imports from Canada were the lowest since May 2021, while those from China were the lowest since March 2020. But imports from Vietnam and Taiwan were the highest on record. Exports rose 3.0 per cent to $289.4 billion, an all-time high. Goods exports increased 3.4 per cent to a record $190.5 billion. They were boosted by a $10.4 billion jump in industrial supplies and materials, mostly finished metal shapes, nonmonetary gold and crude oil. Capital goods exports advanced $1.0 billion, lifted by computers. But exports of motor vehicles, parts and engines fell $3.3 billion, held down by passenger cars as well as trucks, buses and special purpose vehicles. Exports of services increased $2.1 billion to $98.9 billion, lifted by travel, despite reports of decreased tourist visits because of the trade tensions and an immigration crackdown. The United States had record goods trade surpluses with Hong Kong, the United Kingdom and Switzerland. But it had record deficits with Vietnam, Taiwan and Thailand, while the gap with Canada was the smallest since April 2021.

Flying taxis in Oman: LYNEports and AeroVecto team up to plan eVTOL ports and routes
Flying taxis in Oman: LYNEports and AeroVecto team up to plan eVTOL ports and routes

Arabian Business

time2 hours ago

  • Arabian Business

Flying taxis in Oman: LYNEports and AeroVecto team up to plan eVTOL ports and routes

LYNEports and AeroVecto have signed deal to plan hybrid electric VTOL aircraft in Oman. AeroVecto's flagship aircraft, Shuttle, is designed to redefine public transportation in Oman and the wider GCC region. Prioritising passenger capacity and comfort, Shuttle is poised to transform how people move within and between cities, ushering in a new era of clean, efficient, and scalable urban air mobility. eVTOL in Oman Through this partnership, LYNEports will support the planning and simulation of AeroVecto's Shuttle network, ensuring that every site is designed with aviation-grade safety, operational feasibility, and regulatory compliance in mind. Leveraging LYNEports' AI-powered platform, AeroVecto will be able to assess optimal locations, simulate flight paths, and visualise integrated transport networks to accelerate AAM adoption across Oman. Rasha Alshami, CEO of LYNEports, said: 'We're excited to support AeroVecto in bringing their innovative vision to life. Their commitment to solving real public transport challenges in the region aligns perfectly with our mission to make AAM infrastructure accessible, safe, and well-planned from day one.' Fahad Al Riyami, CEO of AeroVecto, said: 'At AeroVecto, our vision is to make high-capacity aerial commuting a practical reality for cities across the region. 'We are excited to partner with LYNEports to advance vertiport planning and route optimisation of the Shuttle network, enabling efficient urban air transport for the masses.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store