Latest news with #mobilitysolutions
Zawya
29-07-2025
- Automotive
- Zawya
Dubai Taxi's Q2 revenue rises 18% year-on-year to $170m
Dubai Taxi Company (DTC), a provider of comprehensive mobility solutions in Dubai, reported strong financial performance in Q2 2025, with revenue growing 18 per cent year-on-year to AED625.2 million ($170 million) due to fleet expansion and increased trips. In H1 2025, revenue increased by 11 per cent YoY to AED1.2 billion, reflecting sustained momentum in the first half of the year. DTC's taxi segment revenue in Q2 2025 increased by 18 per cent year-on-year to AED539.7 million, driven by fleet expansion while maintaining strong utilisation levels. As of June 2025, the total operational taxi fleet reached 6,210 vehicles, including 335 fully electric vehicles as part of the Company's ongoing transition to a more sustainable offering. The limousine segment saw revenue increase by 8 per cent year-on-year to 30.5 million in Q2 2025, supported by the expansion of its fleet. The Company's taxis and limousines segment completed 13.6 million trips during Q2 2025, up 19 per cent year-on-year. As of June 2025, DTC's total operational fleet across all segments increased by 23 per cent to 10,180. DTC's bus segment revenue stood at AED31.3 million for Q2 2025, a 12 per cent decrease year-on-year, due to contractual changes that altered the revenue recognition cycle during the period. These changes do not have any impact on the overall annual contract values. The Company's delivery bike segment recorded strong revenue growth in Q2 2025, increasing by 102 per cent year-on-year to AED 18.2 million, supported by continued expansion in the fast-growing on-demand delivery market. The Company's EBITDA increased 30 per cent year-on-year to AED180.6 million in Q2 2025 driven by a significant increase in trips and revenue, alongside a lower promotional impact from Connectech (DTC's subsidiary including Bolt e-hailing operations), which was more heavily weighted toward the first quarter as anticipated. The EBITDA margin in the second quarter was up 3 percentage points at 29 per cent, whilst remaining robust at 28 per cent for the first half, as DTC remained focused on driving operational efficiencies. Net profit in Q2 2025 increased by 33 per cent year-on-year to AED105.4 million, representing a net profit margin of 17 per cent, supported by the strong rise in operating profit. DTC maintains a healthy balance sheet, with a highly attractive net debt-to-EBITDA ratio of 1.2x and a cash balance of AED236 million as of 30 June 2025, including Wakala deposits. Abdul Muhsen Kalbat, DTC's Chairman, said:'Our results reflect the continued strength of our operating model and our ability to deliver value through consistent execution and customer-focused innovation. We are proud to operate in a market as dynamic and forward-looking as Dubai and the wider UAE, where strong population growth, record infrastructure investment, and robust economic indicators continue to support long-term demand for smart mobility solutions, and we are well-positioned to capitalise on these positive trends. I am also pleased to confirm that the Board approved a dividend payout for the first half of the year, in line with our highly attractive policy to distribute at least 85 per cent of annual net profit.' Mansoor Alfalasi, DTC's CEO, added: 'Our performance in the second quarter and first half of 2025 underscores our disciplined execution and sustained operational progress. We continue to see strong momentum across our core segments, driven by expanding fleet capabilities and increasing demand for smart, customer-centric mobility solutions. A major highlight of the period has been the deepening of our strategic partnership with Bolt, marked by the onboarding of over 6,000 taxis to the Bolt platform. This milestone represents a significant step forward in our ambition to build the UAE's largest e-hailing ecosystem. It exemplifies our commitment to creating integrated, digital-first mobility solutions that elevate everyday convenience and reshape the customer experience. Additionally, our alliance with Al-Futtaim Electric Mobility reinforces our long-term commitment to sustainability as we advance towards a fully electric fleet by 2040.' He added: 'Our business is underpinned by strong fundamentals, a solid financial position, and a platform built for sustainable growth. As we look to the future, our focus remains on driving operational excellence, elevating the customer journey, and unlocking new opportunities within Dubai's and the UAE's dynamic and fast-growing mobility landscape.' Board Approves H1 2025 Dividend DTC's Board of Directors has approved dividends of AED160.7 million, amounting to 6.43 fils per share for H1 2025, in line with the Company's dividend policy of targeting dividend distribution of at least 85 per cent of annual net profit, distributed semi-annually. The announced interim dividend is expected to be distributed in August 2025. Operational Highlights As part of its strategic growth agenda, DTC marked a major milestone through the expansion of its partnership with Bolt, onboarding over 6,000 taxis onto the Bolt platform. This initiative significantly enhances digital accessibility and convenience for residents and visitors, aligning with the emirate's broader vision to transition 80 per cent of taxi trips to e-booking. The move reinforces DTC's leadership in smart mobility and supports its 2025–2029 strategy to cement its position as the UAE's largest taxi operator and a regional transportation leader. Reinforcing its leadership in sustainable mobility, DTC launched a strategic partnership with Al-Futtaim Electric Mobility Company deploying 200 all-electric BYD SEAL taxis across Dubai. This initiative builds on DTC's existing eco-friendly fleet and marks a pivotal step in DTC's journey toward achieving full fleet electrification by 2040 whilst supporting the UAE's broader Net Zero 2050 vision. Beyond environmental impact, the integration of high-performance electric vehicles enhances operational efficiency and passenger experience, further positioning DTC at the forefront of green mobility innovation in the region. In a move to enhance integrated lifestyle experiences, Bolt entered into a strategic partnership with talabat, the region's leading on-demand delivery platform. The initiative offers talabat pro subscribers exclusive discounts on Bolt rides, creating seamless lifestyle integration across transport and delivery platforms. 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Zawya
29-07-2025
- Business
- Zawya
Avis Egypt achieves unprecedented triple win with three international awards in one week
Avis Budget Egypt, the licensee of Avis and Budget in Egypt and the mobility arm of Ezz Elarab Group, a pioneering automotive enterprise with 50 years of legacy, has achieved a historic milestone by receiving three major international awards within a single week, a first for any licensee in Africa and the first car rental company in Egypt to earn this global recognition. Leading the honors, Avis Egypt was awarded 'Licensee of the Year 2025' by Avis Budget Group at its global conference — a recognition that extends through 2027. The conference brought together more than 150 licensees from all over the world. This prestigious award reflects the company's exceptional performance in operations, service quality, fleet size, Net Promoter Score (NPS), and overall global standards compliance. With a diverse fleet offering short & long-term rentals, limousine services, and fleet management, the company has driven local expansion through strategic marketing efforts and capitalizing on the surge in Egyptian tourism. This also coincides with a strategic step for the company as it acquires the Payless Car Rental brand license, enabling it to offer broader and more flexible mobility solutions that suit a wider segment of customers. Avis Egypt was proudly named ' Egypt's Leading Car Rental Company ' for the ninth consecutive year by the World Travel Awards, the travel industry's most prestigious program recognizing excellence across global tourism and hospitality. An achievement that cements its leadership position in the Egyptian market. Additionally, Budget Egypt was recognized by with a ' Customer Favorite Award ' based on customers' reviews and performance indicators. These awards collectively solidify Avis Budget Egypt's commitment to providing exceptional car rental and limousine services that adhere to the highest global standards while catering to the unique needs of the local market. Mr. Hisham Ezz Elarab, Chairman of Ezz Elarab Group, commented on the achievement, saying: 'These awards are a direct outcome of our well-defined strategy and deep-rooted understanding of the market dynamics, both globally and across the Middle East. The awards reaffirm the value we consistently deliver through services that not only meet, but anticipate the evolving expectations of today's customers, all while upholding the highest international standards of quality, efficiency, and comfort'. Ms. Nevine El-Labban, Chairwoman of Avis Budget Egypt, added: " These milestones reflect not only a comprehensive strategy but also the dedication of a highly professional team. It highlights our ability to maintain our leadership position and expand our customer base by adding new brands like Payless, which help us diversify our segment. They also affirm our continued focus on providing premium services, a key strength that meets the needs of many customers across Egypt. We are proud to have earned these three awards, which mark a new turning point in our journey and demonstrate our ability to maintain the trust of our partners and clients across all sectors". Avis Budget Egypt has evolved into a leading enterprise, achieving fivefold growth in just three years, driven by visionary leadership and a highly skilled team. The company's offerings span short-term rentals, long-term leasing, chauffeured services, and corporate fleet management. By strengthening its long-term leasing and chauffeured transportation operations, Avis Budget Egypt has further diversified its portfolio and revenue streams, firmly positioning itself as a key player in shaping the future of regional mobility.
Arab News
05-07-2025
- Automotive
- Arab News
Jameel Motors, Geely Auto to enter Italian market with new energy passenger vehicles
Jameel Motors, a leading provider of mobility solutions and partner of choice for top automotive brands, has signed a distribution agreement with Geely Auto, a globally renowned auto group, to bring Geely's new energy passenger vehicles (NEVs) to the Italian market. Italy is a new market entry for the two automotive leaders, with Jameel Motors having won the distribution agreement through a competitive process involving both local and international companies, shortly after winning the agreement for Poland in April. Italy is one of Europe's most relevant markets, with a strong potential for NEV growth. In the first five months of 2025, joint sales of electric vehicles and plug-in hybrid electric vehicles accounted for 11% in the Italian market — a remarkable 132% year-on-year increase in EV registrations, signaling strong demand for innovative international brands. This presents a long-term opportunity and supports Jameel Motors' strategic expansion into high-potential markets. Jameel Motors Italia will be bringing advanced automotive technology, a fresh choice of high-quality vehicles, and first-class customer service to Italian drivers, while contributing to the country's growing shift toward electric mobility. Jameel Motors Italia will officially launch two of Geely Auto's standout models in the final quarter of this year. The two models are the Geely EX5, a next-generation all-electric SUV, and a plug-in Super Hybrid SUV. Geely Auto vehicles are built on the brand's advanced modular platform architecture, delivering state-of-the-art design, safety, performance and offering the highest quality underpinned by its six-year warranty. Jameel Motors Italia aims to develop a professional dealer network across the country, offering approximately 100 Sales and Service points when fully operational. Fady Jameel, vice chairman, Jameel Motors, said: 'This marks an exciting new chapter for Jameel Motors as we expand into Italy — one of Europe's most high-potential automotive markets. Our collaboration with Geely Auto brings together innovation, quality, and a shared commitment to a more sustainable mobility future. 'By winning this agreement, we look forward to offering Italian customers a new standard in electric mobility with advanced vehicles that truly meet their evolving needs. We also look forward to seeing Jameel Motors continue its international expansion as a distinguished partner in the mobility sector.' Moe Wang, vice president of Geely Auto International Corporation, said: 'Expanding to Italy is an important step in Geely Auto's globalization strategy. With the in-depth cooperation with Jameel Motors, Geely Auto will fulfill its mission of providing green, intelligent and convenient mobility solutions, and comprehensively enhance consumers' mobility experience.' Jasmmine Wong, chief executive officer, Jameel Motors, said: 'This is an incredible opportunity at a time when the market has become increasingly dynamic due to the green transition and the rapid technological change in the automotive sector. The ability to innovate, listen to the customer, and anticipate trends will be our strength, allowing us to offer increasingly innovative and sustainable solutions.' Jameel Motors Italia will be led by Marco Santucci, a seasoned automotive executive with almost three decades of experience in the Italian market. Santucci has held pivotal roles at Ford, Toyota Motor Europe, and most recently served as president and CEO of Jaguar Land Rover Italy. Renowned for his leadership and expertise in sales and marketing, innovation, and customer experience, he brings a track record of driving performance and sustainable growth. His deep industry insight and strategic mindset position him as a key asset in advancing Jameel Motors Italia's vision. Marco Santucci, managing director, Jameel Motors Italia, said: 'With Geely Auto's cutting-edge technology and Jameel Motors' customer-first approach, we are well-positioned to deliver real value to the market. Remaining flexible and open to change will be the key to ensuring a future of success, generating a positive impact for the market and our customers.' Geely Auto is a leading Chinese automobile manufacturer and pioneer in intelligent driving, with a presence in more than 80 countries and sales of over 2.17 million vehicles in 2024. Geely Auto operates with an innovation-first mindset, driven by more than 50,000 employees working across 12 factories and 5 global R&D centers in Hangzhou, Ningbo, Gothenburg, Coventry and Frankfurt. Most recently, it released the first 'Intelligent Vehicle AI' technology system. Furthermore, Geely Auto has consistently ranked as a top ESG performer within its sector, having achieved an AA grade in the MSCI ESG Rating and as part of the Hang Seng Corporate Sustainability Index. Since 2023, Italy has been Geely Auto's hub for creativity and design with the establishment of Geely Innovation Design Center in Milan. It works in tandem with the Geely global design network for vehicle design and concept development. From working closely with top-tier Italian designers to provide electric mobility solution to local consumers, Geely is committed to firmly establishing its brand in Italy with increasing awareness. Jameel Motors represents some of the world's most recognized commercial and passenger vehicle brands and has operations in more than 10 countries across the Middle East, Africa, Europe, Asia and Australia. This agreement marks another milestone as Jameel Motors continues to expand internationally and harness innovation for the future of mobility. 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Associated Press
01-07-2025
- Business
- Associated Press
Pioneering Global Presence, Empowering the World - Zuowei Technology Shining at WHX Miami Medical Expo
SHENZHEN, China, July 1, 2025 /PRNewswire/ -- From June 11 to 13, the 2025 WHX Miami Medical Expo (formerly known as FIME), the annual grand event of the medical industry in the Americas, was held at the Miami Beach Convention Center. As one of the largest and most influential professional exhibitions for medical devices and equipment in the Americas, WHX Miami attracted top companies from around the world, serving as a vital hub connecting the healthcare markets of North America, South America, and the Caribbean. Among the many exhibitors, Shenzhen Zuowei Technology Co., Ltd. from China stood out with its impressive presence. Its cutting-edge intelligent nursing robots and innovative solutions became a highlight of the expo, drawing significant attention from attendees and industry professionals alike. Zuowei Technology showcased a series of its latest Intelligent Incontinence Cleaning product at the expo, including Gait Training Electric Wheelchair, Portable Bed Shower Machine, and Foldable Electric Mobility Scooter. Among them, the Portable Bed Shower Machine stood out with its compact design and powerful functionality. Specially developed for individuals with limited mobility, this device breaks through the traditional constraints of bathing environments and labor demands. With its one-touch intelligent operation, constant temperature system, and safety-focused design, the machine makes the bathing process easy, safe, and convenient. The Gait Training Electric Wheelchair also garnered significant attention at the expo. Equipped with high-precision sensors and an intelligent navigation system, it provides stable and secure walking assistance for individuals with mobility impairments. Meanwhile, the foldable electric mobility scooter, known for its 'small size, big power,' features a lightweight, easily foldable design for effortless transport, extended battery life, and a comfortable riding experience—bringing newfound freedom of movement to users facing travel limitations. These products seamlessly integrate cutting-edge technologies such as artificial intelligence (AI) and the Internet of Things (IoT) into caregiving scenarios. They not only highlight Zuowei Technology's strong R&D capabilities in intelligent nursing solutions but also reflect the keen insight of Chinese enterprises into the evolving global care market. During the three-day exhibition, the Zuowei Technology team welcomed over 100 clients from around the world with great enthusiasm and professionalism. Among them were long-term overseas partners who have worked closely with the company for years, as well as new clients who were instantly drawn to the unique appeal of Zuowei's products upon first contact. A U.S.-based distributor shared his thoughts with the media: 'Zuowei's products are truly outstanding. I believe there will be strong demand for them in the U.S. market. We look forward to establishing a long-term partnership with Zuowei Technology to jointly promote the development of intelligent caregiving technologies.' The company's representative, in an interview with reporters, commented: 'This exhibition holds great significance for us. We see it as a key opportunity to accelerate our international expansion, actively explore global markets, and provide high-quality, efficient products and solutions to clients worldwide.' In recent years, as Chinese enterprises continue to achieve breakthroughs in core technologies and demonstrate remarkable product innovation, an increasing number of Chinese medical technology products are gaining recognition in international markets. Zuowei Technology has already established stable business relationships with partners in over 50 countries and regions worldwide, earning widespread praise and trust. Dedicated to intelligent care for the disabled elderly, Zuowei Technology focuses on six essential caregiving needs—toileting, bathing, eating, getting in and out of bed, walking, and dressing. The company provides comprehensive solutions combining intelligent nursing series and smart caregiving platforms, delivering more thoughtful, professional, and technology-driven elderly care experiences to users around the globe. Zuowei remains committed to contributing to the global senior care industry with cutting-edge innovation and heartfelt service. View original content to download multimedia: SOURCE Zuowei Technology
Yahoo
30-06-2025
- Business
- Yahoo
Faraday Future Announces Inclusion in Russell 3000® and Russell Microcap® Indexes
LOS ANGELES, June 30, 2025--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. ("Faraday Future" or "FF") (NASDAQ: FFAI), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has been added to both the Russell 3000® Index and the Russell Microcap® Index, effective at the open of the U.S. equity markets on June 30, 2025, as part of the 2025 annual Russell indexes reconstitution. Membership in the Russell 3000® Index, which remains in place for one year, means Faraday Future is also eligible for inclusion in either the Russell 1000® Index or Russell 2000® Index, and in this case additionally included in the Russell Microcap® Index, reflecting the Company's market capitalization positioning. These widely followed benchmarks are used by investment managers and institutional investors for index funds and as performance benchmarks, and inclusion can potentially increase investor awareness and broaden the shareholder base. "We are honored to be included in both the Russell 3000 and Russell Microcap Indexes," said Jerry Wang, Global President of Faraday Future. "This inclusion highlights the momentum we are building in the intelligent electric vehicle sector and underscores our commitment to delivering innovative mobility solutions that redefine premium while affordable user experiences via Faraday Future and Faraday X - our unique dual branding strategy." The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, ranking them by total market capitalization. Membership in the Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $18.1 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell at: 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 new 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 View source version on Contacts Investors (English): ir@ Investors (Chinese): cn-ir@ Media: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
