Latest news with #sustainablemobility
Zawya
27-05-2025
- Automotive
- Zawya
Faraday Future to establish first regional facility in RAK with $8.17mln investment
RAS AL KHAIMAH - Faraday Future (FF), a California-based global AI electric vehicle manufacturer, is launching its first operational base in the Middle East in Ras Al Khaimah. The new facility—located in Al Hamra, Ras Al Khaimah Economic Zone (RAKEZ)—will span approximately 108,000 ft2 and house an office, engineering workshop, and operational hub. Backed by an initial investment of AED30 million, the project is expected to generate 200 direct jobs across engineering, logistics, operations, and customer support. This 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 solutions. The 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 facilitation. RAKEZ 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.
Zawya
27-05-2025
- Automotive
- Zawya
Faraday Future set to establish 1st regional facility at Ras Al Khaimah with AED 30mln investment
Ras Al Khaimah: Faraday Future (FF), a California-based global AI electric vehicle manufacturer, is launching its first operational base in the Middle East in Ras Al Khaimah. This 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 solutions. The new facility—located in Al Hamra, Ras Al Khaimah Economic Zone (RAKEZ)—will span approximately 108,000 ft2 and house an office, engineering workshop, and operational hub. Backed by an initial investment of AED 30 million, the project is expected to generate 200 direct jobs across engineering, logistics, operations, and customer support. The 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 facilitation. RAKEZ 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% 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. For more information, please contact: Cleo Eleazar, Public Relations & Events Manager, RAKEZEmail: 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. About Faraday Future Founded in 2014, Faraday Future is a California-based global intelligent electric mobility ecosystem company committed to redefining the future of transportation. With a mission to disrupt the automotive industry, the company delivers the 'Ultimate AI TechLuxury' experience through cutting-edge design, performance, and smart technology. Its flagship model, the FF 91, embodies its vision of next-generation luxury and innovation. Faraday X (FX) is the company's second brand, focused on making high-end electric mobility accessible to the broader market. With a mission of 'AIEV for everyone,' FX aims to introduce mass-market AI electric vehicles equipped with state-of-the-art luxury technology, expanding Faraday Future's reach and impact across global markets.
Forbes
26-05-2025
- Business
- Forbes
Athens Mayor Haris Doukas To Promote Travel, Sustainability In Shanghai This Week
Athens Mayor Haris Doukas will travel to Shanghai this week as part of efforts to deepen what he has described as an 'excellent relationship' with the global business and innovation hub. The May 28–30 visit follows the formal signing of a sister city agreement between Athens and Shanghai in Greece's capital in January. 'The twinning of the two cities strengthens their cooperation across a wide range of areas of mutual interest, including tourism, culture, sports, entrepreneurship and innovation, education, urban regeneration, resilience, and sustainability,' the mayor's office said via email. During his first official visit to Shanghai, Mayor Doukas will explore new opportunities in sustainable mobility, tourism and innovation, according to the statement from his office. To that end, he will participate in ITB China, a three-day travel and trade fair being held in Shanghai this week that ranks among the largest of its kind in the country. Last year, China's Juneyao Airlines launched direct flights between Athens and Shanghai, reportedly boosting Chinese tourist arrivals to Greece by 30%. Doukas—who continues to serve as a professor in the School of Electrical and Computer Engineering at the National Technical University of Athens—is also scheduled to meet with Chinese electric bus manufacturer Higer. 'The meeting will serve as a starting point for the exchange of know-how and best practices in sustainable transportation, as the city of Athens is considering the launch of a municipal commuter service using electric vehicles,' the mayor's office said. According to his official biography, Doukas has nearly two decades of experience in designing policies and programs to promote renewable energy, energy efficiency, and energy management at both the national and European levels, as well as in Africa and the Arab states of the Persian Gulf. Doukas has also been invited to speak at the opening of the Shanghai International Friendship Cities Cooperation Forum 2025. He is scheduled to take part in a session focusing on how cities monitor environmental pollution and promote the sustainable recycling of social resources through green and low-carbon transformation—advancing long-term sustainable development, his office said. In addition, he will visit the Commercial Aircraft Corporation of China, or COMAC, and the Greek department of the Shanghai International Studies University, and speak at a dinner hosted by popular Greek-themed Shanghai venue Hellas House. Greece, which faced a major economic crisis a decade ago, has since experienced a strong rebound and a booming tourism sector under Prime Minister Kyriakos Mitsotakis. Morgan Stanley forecasts Greek GDP growth of 2.2% in 2025. Major Chinese investors in Greece include COSCO Shipping and State Grid. In an interview with Forbes China in Athens last month, Doukas expressed optimism about expanding ties with Shanghai. 'Technology transfer and other areas of expertise are critical for us. We have many things to discuss in those sectors," he said. "Furthermore, culturally, both cities have a long history and rich culture. We strongly believe that a multicultural environment is essential nowadays. Finally, Shanghai has made important strides in creating a green urban environment. A sustainable, green Athens is a major priority for our city, and this is an important element of our cooperation with Shanghai,' Doukas said. 'We believe it's vital to understand the changes brought by digitalization and to create smart neighborhoods, where waste management, lighting, and citizen participation are all interconnected. Shanghai has achieved important results with cutting-edge technology,' he added. Other prominent Athens-based visitors in Shanghai this week include Antigoni Lymperopoulos, CEO of the Hellenic Development Bank of Investments, or HDBI, and Panagiotis Karampinis, CEO of Endeavor Greece.
Russia Today
25-05-2025
- Automotive
- Russia Today
German e-mobility association files for bankruptcy
A German association bringing together companies linked to electric car production has filed for bankruptcy, the newspaper Die Welt reported on Sunday, citing court data. The organization represents a total of 450 companies from various parts of the world, including Mitsubishi and Kia, and acts as a lobbying group for them. Founded 16 years ago, the German Federal eMobility Association (BEM) describes itself as a network of stakeholders along the entire electric car value chain and claims it is 'actively driving the transition to a sustainable mobility and energy system based on renewable energy.' According to Die Welt, its members have a turnover of $114 billion and employ around a million people in total. It also reportedly has its own parliamentary advisory board. Now, the 'struggling' association has been assigned a provisional insolvency administrator by the Berlin-Charlottenburg insolvency court, the daily reported. It did not elaborate on the reasons that prompted the association to take this step. A BEM board member, Markus Emmert, declined to comment on the matter in response to a request by Die Welt. Germany's automotive sector has long been mired in stagnation. In March, Bosch, the world's largest automotive supplier by revenue, announced additional job cuts potentially affecting thousands of employees. Bosch CEO Stefan Hartung attributed the decision to the sluggish global economy, the stagnating automotive sector, as well as increasing competition from China. The industry has also been seeing a slower than expected transition to electric vehicles, according to Hartung. Shutdowns and bankruptcies have also been affecting major German car manufacturers. In January, Reuters reported that Chinese car giants were eyeing Volkswagen factories in Germany that had been slated for closure. The previous government led by former Chancellor Olaf Scholz set a goal of having 15 million fully electric cars on Germany's roads by 2030. However, according to the Federal Motor Transport Authority, as of January 1, only 1.6 million such vehicles were registered, accounting for just 3.3% of the nation's passenger car fleet. Electric car sales collapsed after Scholz's cabinet decided to end government subsidies for EV purchases following the budget crisis in 2023. Earlier this year, Handelsblatt Research Institute (HRI) warned that the German economy is on track for its longest post-war recession. A third consecutive year of contraction is projected for 2025.
The National
24-05-2025
- Automotive
- The National
ROX Motor begins UAE journey with W Motors to manufacture new energy vehicles
ROX Motor, a global luxury new energy vehicle brand, has announced a strategic partnership with W Motors, the UAE's leading high-performance vehicle manufacturer, to localise production and assembly of its vehicles in the UAE. The agreement, signed at Make it in the Emirates 2025 event last week, marks a major milestone in enhancing regional manufacturing and supporting the country's industrial and sustainability goals. As part of this collaboration, ROX Motor will begin producing its vehicles - starting with the ROX 01 - at W Motors' new facility in Abu Dhabi. This move signifies the first time ROX vehicles will be manufactured outside China, reflecting a commitment to local adaptation and regional resilience. 'This partnership accelerates our regional growth and aligns with the UAE's industrial strategies,' said Jarvis Yan, founder and chief executive of ROX Motor. 'Together with W Motors, we're building the future of sustainable mobility in the UAE and beyond.' Ralph Debbas, founder and chief executive of W Motors, said: 'We're proud to lead the manufacturing of ROX 01 in Abu Dhabi. This collaboration enhances our ability to provide advanced contract manufacturing and supports the UAE's ambition to become a global automotive hub.' The partnership supports key national initiatives including Operation 300bn, Industry 4.0, and Net Zero by 2050, reinforcing both companies' roles in shaping a sustainable and self-reliant automotive future for the region. In addition to local manufacturing efforts, ROX Motor is accelerating innovation through strategic technology partnerships in the UAE. The company recently entered into a collaboration with Enercap to advance high-performance battery cell applications across its product line, enhancing deployment and operational efficiency regionally and globally. ROX Motor has also signed an agreement with leading petrochemical company Borouge to explore joint R&D on advanced polyolefin materials for automotive use, further strengthening its localised supply chain and supporting the UAE's Operation 300bn strategy. Borouge collaboration brings advanced polyolefin innovation, enabling lighter, more durable interiors and exteriors tailored for everyday use - from bustling city streets to open desert.
