Latest news with #RamyJallad
Zawya
a day ago
- Business
- Zawya
RAKEZ concludes series of strategic engagements across China to boost bilateral cooperation
Ras Al Khaimah: Ras Al Khaimah Economic Zone (RAKEZ) successfully concluded a multi-city business mission across China, further solidifying its role in advancing UAE-China trade and investment relations. The delegation participated in several high-level B2B engagements, the prestigious 'UAE – China (Sichuan) Economic & Trade Cooperation Promotion Conference' event, hosted by the Embassy of the United Arab Emirates in Beijing, as well as the Invest UAE Roadshow in Guangzhou led by the UAE Ministry of Investment. The events brought together senior officials, business leaders, and investors to explore cooperation in energy, logistics, technology, healthcare, green energy, and more. Through its participation, RAKEZ deepened dialogue with stakeholders, showcased Ras Al Khaimah's business appeal, and strengthened economic ties with one of its most important international markets. Reflecting on the success of the visit, RAKEZ Group CEO Ramy Jallad commented: 'China is a market of great strategic importance to us. Our continuous engagement across several provinces is part of a broader mission to foster resilient, future-focused partnerships. As an enabler of the Belt and Road Initiative, RAKEZ stands as a trusted platform where Chinese enterprises can establish, innovate, and thrive on a global scale. We are here to support their journey every step of the way.' During the Invest UAE Roadshow in Guangzhou, RAKEZ CCO Anas Hijjawi participated in a panel discussion on 'The UAE as a Manufacturing Hub for Chinese Companies Expanding Internationally'. In his remarks, Hijjawi introduced RAKEZ's dual-track industrial strategy. He first highlighted the zone's strong foundation in traditional manufacturing sectors such as metal processing, building materials, chemicals, etc., which have long been key pillars of Ras Al Khaimah's industrial landscape. He then introduced the economic zone's evolving vision through infrastructural initiatives like Tech Flex—an approach designed to attract technology-driven companies by leveraging synergies with its established industrial base. This transition is already taking shape through major developments like THi's USD 300 million high-tech industrial park and the USD 360 million Zhong A Shandong Industrial Park, which are drawing businesses in advanced manufacturing, wood processing, and food production. Building on this momentum, RAKEZ continues to capture interest from the Chinese business community through its collaborative and flexible approach. Rather than applying a one-size-fits-all model, the economic zone co-develops infrastructure and services with its partners, aligning with each project's unique goals. This has helped foster long-term relationships with over 200 Chinese enterprises across sectors such as LED lighting, packaging, recycling, and engineering. Key players such as China State Construction, Metally Industries, Maxtron Show Lighting, Zaiwei Construction, and THi have chosen RAKEZ as a base for regional operations. These enterprises are supported through streamlined licensing, scalable warehousing and industrial space, and visa facilitation—designed to accelerate set-up and support long-term growth. RAKEZ's efforts align with the UAE's broader role as a key trade partner for China. As China's largest commercial partner in the Arab world, the UAE serves as a critical re-export hub, with around 60% of Chinese trade channelled through the country to more than 400 cities across the MENA region. The economic zone's collaborations with leading Chinese industrial entities and development zones—including the Tianjin Pilot Free Trade Zone, Liaocheng Economic and Technological Development Zone, Zhong A Shandong Industrial Park, and Foshan Commerce Bureau—underscore the depth of its engagement. These relationships are further strengthened through regular outreach and roadshows in key cities such as Shenzhen, Foshan, Dongguan, Guangzhou, Liaocheng, and Tianjin. RAKEZ remains focused on fostering growth in next-generation sectors such as electric mobility, agri-tech, circular economy solutions, and speciality chemicals. Its industrial ecosystem, backed by sector-focused infrastructure and pro-investor policies, is poised to support the ambitions of Chinese businesses seeking international expansion and long-term regional relevance. About Ras Al Khaimah Economic Zone (RAKEZ): RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 30,000 companies coming from over 100+ countries and operating in more than 50 industries. RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers. A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
Zawya
3 days ago
- Business
- Zawya
RAKEZ workshop equips SMEs with smarter financial tools to scale with confidence
Ras Al Khaimah: Ras Al Khaimah Economic Zone (RAKEZ) continues to empower its dynamic community of entrepreneurs and SMEs through targeted learning initiatives that tackle real-world business challenges. In its latest knowledge-sharing session, 'Mastering financial management: Smart money strategies for SMEs,' held at Compass Coworking Centre, business owners and financial decision-makers came together to exchange practical insights on strengthening their financial foundations. The session explored critical financial topics that are often overlooked by growing enterprises—from building realistic budgets and decoding essential metrics to enhancing cash flow resilience and reducing costs without compromising performance. The audience engaged in expert-led discussions that broke down complex financial concepts into actionable strategies. Attendees walked away with tangible tools to optimise spending, adapt budgets to market shifts, and ground forecasts in data rather than guesswork. The session also underscored the importance of mentorship and agile financial planning in driving long-term sustainability. Led by Dr. Alida Helena Scholtz, Chief Financial Officer at RAKEZ, and Reem Abushama, a seasoned tax consultant, the event highlighted RAKEZ's ongoing commitment to supporting its business community beyond set-up, offering continuous opportunities for learning and growth. RAKEZ Group CEO Ramy Jallad said, 'For any SME, financial literacy is not just a skill—it's a strategic advantage. At RAKEZ, we're proud to support the SMEs that contribute up to 63.5% to the UAE's non-oil economy, with SMEs making up the majority of our +30,000 business community. It is forecast that there will be 1 million SMEs in the UAE by 2030, and we are committed to playing an active role in this growth. That's why we've built a vibrant ecosystem that goes beyond set-up—offering expert-led seminars, hands-on workshops, and networking events that help entrepreneurs connect, exchange ideas, and find practical solutions to grow and thrive. Our efforts are fully aligned with the UAE's vision to strengthen the SME sector as a key pillar of long-term economic sustainability.' For more information, please contact: Cleo Eleazar, Public Relations & Events Manager, RAKEZ Email: About Ras Al Khaimah Economic Zone (RAKEZ): RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 30,000 companies coming from over 100+ countries and operating in more than 50 industries. RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers. A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.
Al Etihad
4 days ago
- Automotive
- Al Etihad
Faraday Future to establish first regional facility in RAK with Dh30 million investment
27 May 2025 13:39 RAS AL KHAIMAH (ALETIHAD)Faraday Future (FF), a California-based global AI electric vehicle manufacturer, is launching its first operational base within the Middle East in Ras Al new facility—located in Al Hamra, Ras Al Khaimah Economic Zone (RAKEZ)—will span approximately 108,000 square feet and house an office, engineering workshop, and operational by an initial investment of Dh30 million, the project is expected to generate 200 direct jobs across engineering, logistics, operations, and customer set-up is part of the company's strategic global expansion, signalling a major step in regional EV transformation while reinforcing the emirate's position as a hub for advanced, sustainable mobility expansion will be spearheaded through Faraday X (FX)—FF's mass-market brand focused on delivering AIEVs with state-of-the-art luxury technology, aimed at making intelligent electric mobility accessible to everyone. The facility will serve as a strategic base to support operations across the GCC countries, with planned extensions into Europe and North Africa. "This facility represents a tangible start for both FF and FX in the region," said Matthias Aydt, Global Co-CEO of Faraday Future. "Ras Al Khaimah offers the right infrastructure, visionary leadership, and regional connectivity to support our goal of building an intelligent, sustainable mobility ecosystem. We are proud to build a facility that will not only serve as a gateway to the region but also has the potential to create up to 200 skilled jobs."RAKEZ played a critical role in enabling Faraday Future's seamless entry into the region, providing end-to-end support in infrastructure set-up, regulatory processes, and policy Group CEO Ramy Jallad said, "Faraday Future's entry is more than the launch of a facility—it marks the beginning of a bold new chapter in the region's mobility landscape. The company brings a powerful vision to the table, one that redefines the future of intelligent transportation."As the UAE accelerates toward its goal of having 50 percent of all new cars sold to be electric or hybrid by 2050, supported by government incentives such as free charging stations, reduced registration fees, and green mobility policies, the timing couldn't be more aligned. At RAKEZ, we are proud to be the springboard for their Middle East journey, and to support pioneers who are reshaping industries through innovation and sustainability." The project is currently under construction, with operations expected to commence in H2 2025. In the long term, FF aims to expand its regional R&D capabilities and build a localised supply chain ecosystem anchored in Ras Al Khaimah. Source: Aletihad - Abu Dhabi
Yahoo
23-05-2025
- Business
- Yahoo
Faraday Future Celebrates Major Milestone in its Middle East "Third Pole" Strategy with its New Operations Facility Handover Ceremony in Ras Al Khaimah, UAE
The facility will support the production of both FF and potential Faraday X (FX) models, enabling the Company to serve diverse customer segments across the Gulf Cooperation Council (GCC) countries, with potential future expansion into Europe and North Africa. The lease agreement was signed during the Make it in the Emirates 2025 summit in Abu Dhabi, reinforcing Faraday Future's commitment to industrial innovation in the UAE. RAS AL KHAIMAH, United Arab Emirates, May 23, 2025--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF" or "Company"), a California-based global shared intelligent electric mobility ecosystem company, announced that it held a formal handover ceremony for its first regional facility in Ras Al Khaimah, United Arab Emirates, marking a significant milestone in the execution of its Middle East "Third Pole" strategy, alongside the dual-home market strategy in U.S. and China. The project was formally announced on May 21, 2025, during RAKEZ's participation in Make it in the Emirates 2025 in Abu Dhabi, where a lease agreement was signed between RAKEZ and Faraday Future Middle East FZ-LLC, the subsidiary of FF. The 108,000-square-foot facility will encompass an office, engineering workshop, and operational hub. The facility will support both the FF brand and potential FX models, serving as a hub for operations across the GCC, with potential future expansion into Europe and North Africa. The handover ceremony event, held at the site of the facility in the Al Hamra area of the Ras Al Khaimah Economic Zone (RAKEZ), signifies FF's official landing in the Middle East and a major step in the Company's strategic global expansion. The ceremony was attended by Faraday Future's Global Co-CEO Matthias Aydt, Chief Financial Officer Koti Meka, Head of Middle East and Executive Director Chui Tin Mok, and Ramy Jallad, Group CEO of RAKEZ, highlighting the significance of this project for both FF and the region. "This handover event represents a tangible start for both FF and FX in the region," said Matthias Aydt, Global Co-CEO of Faraday Future. "Ras Al Khaimah offers the right infrastructure, visionary leadership, and regional connectivity to support our goal of building an intelligent, sustainable mobility ecosystem. We are proud to build a facility that will not only serve as a gateway to the region but also has the potential to create up to 200 skilled jobs." RAKEZ played a critical role in enabling FF's smooth entry into the UAE, offering comprehensive support from infrastructure and permitting, to regulatory alignment. "Faraday Future's entry is more than the launch of a facility—it marks the beginning of a bold new chapter in the region's mobility landscape," said Ramy Jallad, Group CEO of RAKEZ. "As the UAE accelerates toward its green mobility goals, FF's vision and presence in Ras Al Khaimah perfectly align with national ambitions for a sustainable, electric future." Operations at the new site are expected to commence in the second half of 2025. In the longer term, FF aims to establish regional R&D capabilities, and a localized supply chain anchored in Ras Al Khaimah, reinforcing its vision of sustainable, AI-powered mobility. ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit FORWARD LOOKING STATEMENTS This release includes "forward looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release the words "plans," "vision," "will," "future," "expected" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company's Middle East strategy, including establishing operational, sales and production activities in the region, creating jobs in the UAE region, expanding to Europe and North Africa, and potential FX models involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to secure the necessary funding to execute on the FX strategy and the UAE strategy, which will be substantial; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license or produce FX vehicles in the Middle East or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the Middle East or elsewhere, as necessary; the potential impacts of changing tariff policies; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to cover future warranty claims; the Company's ability to use its "at-the-market" program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. View source version on Contacts Investors (English): ir@ Investors (Chinese): cn-ir@ Media:
Business Wire
23-05-2025
- Business
- Business Wire
Faraday Future Celebrates Major Milestone in its Middle East 'Third Pole' Strategy with its New Operations Facility Handover Ceremony in Ras Al Khaimah, UAE
RAS AL KHAIMAH, United Arab Emirates--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or 'Company'), a California-based global shared intelligent electric mobility ecosystem company, announced that it held a formal handover ceremony for its first regional facility in Ras Al Khaimah, United Arab Emirates, marking a significant milestone in the execution of its Middle East 'Third Pole' strategy, alongside the dual-home market strategy in U.S. and China. The project was formally announced on May 21, 2025, during RAKEZ's participation in Make it in the Emirates 2025 in Abu Dhabi, where a lease agreement was signed between RAKEZ and Faraday Future Middle East FZ-LLC, the subsidiary of FF. The 108,000-square-foot facility will encompass an office, engineering workshop, and operational hub. The facility will support both the FF brand and potential FX models, serving as a hub for operations across the GCC, with potential future expansion into Europe and North Africa. The handover ceremony event, held at the site of the facility in the Al Hamra area of the Ras Al Khaimah Economic Zone (RAKEZ), signifies FF's official landing in the Middle East and a major step in the Company's strategic global expansion. The ceremony was attended by Faraday Future's Global Co-CEO Matthias Aydt, Chief Financial Officer Koti Meka, Head of Middle East and Executive Director Chui Tin Mok, and Ramy Jallad, Group CEO of RAKEZ, highlighting the significance of this project for both FF and the region. 'This handover event represents a tangible start for both FF and FX in the region,' said Matthias Aydt, Global Co-CEO of Faraday Future. 'Ras Al Khaimah offers the right infrastructure, visionary leadership, and regional connectivity to support our goal of building an intelligent, sustainable mobility ecosystem. We are proud to build a facility that will not only serve as a gateway to the region but also has the potential to create up to 200 skilled jobs.' RAKEZ played a critical role in enabling FF's smooth entry into the UAE, offering comprehensive support from infrastructure and permitting, to regulatory alignment. 'Faraday Future's entry is more than the launch of a facility—it marks the beginning of a bold new chapter in the region's mobility landscape,' said Ramy Jallad, Group CEO of RAKEZ. 'As the UAE accelerates toward its green mobility goals, FF's vision and presence in Ras Al Khaimah perfectly align with national ambitions for a sustainable, electric future.' Operations at the new site are expected to commence in the second half of 2025. In the longer term, FF aims to establish regional R&D capabilities, and a localized supply chain anchored in Ras Al Khaimah, reinforcing its vision of sustainable, AI-powered mobility. ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit FORWARD LOOKING STATEMENTS This release includes 'forward looking statements' within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release the words 'plans,' 'vision,' 'will,' 'future,' 'expected' and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company's Middle East strategy, including establishing operational, sales and production activities in the region, creating jobs in the UAE region, expanding to Europe and North Africa, and potential FX models involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to secure the necessary funding to execute on the FX strategy and the UAE strategy, which will be substantial; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license or produce FX vehicles in the Middle East or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the Middle East or elsewhere, as necessary; the potential impacts of changing tariff policies; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to cover future warranty claims; the Company's ability to use its 'at-the-market' program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
