The Ministry of Investment is witnessing the signing of an agreement to manufacture infrastructure for electric vehicles

Abu Dhabi, June 17 / WAM / The Ministry of Investment witnessed the signing of a joint venture agreement to establish the “Telos Power Middle East and North Africa”, a new company for manufacturing electric vehicles infrastructure, and a technological partner, which is based in the Emirates.

The Ministry played a pivotal role in facilitating this founding investment, confirming its commitment to attracting the stimulating investments for the future to the country, supporting and enhancing the growth of family companies in the country’s markets, and enhancing the UAE’s position as a regional center for advanced industries and sustainable technologies, which are among the priority sectors within the national investment strategy.

The Ministry of Investment participated in the deal from its inception until its completion, and its role included offering an investment opportunity, conducting due care studies on potential partners, and effectively supporting the joint project negotiations.

The Ministry presented, in addition, the strategic investment guidance, and played a pivotal role in linking the concerned parties, government agencies and relevant free zones to ensure a smooth and effective establishment of the project.

The agreement was signed at the headquarters of the Ministry of Investment, in the presence of Mike Calis, CEO of Telos Power Group, and Marius Cavola, CEO of Singh Family Enterprise Group in the Middle East.

The signing ceremony witnessed the share of Al -Ghurair, the Acting Agency at the Ministry of Investment; And Hamdan Zakaria, the head of the Chinese Innovation Center in the Emirates; Bastian Yansong Lee, the founding partner of “Tilos Power”; And Muhammad bin Hindi, CEO of “Bin Hindi Holding”.

The new entity includes “Ben Hindi Holding”, an Emirati investment company that focuses on enabling national capabilities in the areas of energy transport and industrial innovation; The “Singh Family Enterprise” group, a multi -activities family business group, is based in China, has its headquarters; The Telos Power Group, a manufacturer for electric cars, is based in California, and provides services in the United States, Europe, India, China, South America and the Gulf Cooperation Council countries.
This joint project can enhance local manufacturing solutions to charging electric cars in the UAE, which contributes to increasing regional demand for these cars and accelerating the adoption of two -way charging technologies from the car to the network throughout the Gulf Cooperation Council countries.

His Excellency Mohamed Abdel -Rahman Al -Hawi, Undersecretary of the Ministry of Investment, said that this agreement embodies the Ministry’s continuous commitment as a strategic partner for international and local investors and family companies, and is consistent with its mission to consolidate the UAE’s position and enhance its ability to attract investments that keep pace with future trends and are compatible with national priorities, indicating that the ministry continues by supporting such partnerships, attracting high -value investments to the major growth sectors It contributes to this to stimulate innovation and achieve sustainable economic prosperity.

For his part, Mike Calis, CEO of Telos Power Group, said that joining this strategic alliance, which constitutes an important step in the group’s endeavors, aims to expand its global presence, pointing to the pivotal role that the UAE plays as a pioneering center for clean technology and smart mobility, which will enable “Telos Power” to meet the increasing demand for the electric vehicles infrastructure in the Cooperation Council region region Gulf.

In turn, Marius Cavola, CEO of “Singh Family Enterprise” group in the Middle East, said that the group aspires through this partnership to make the UAE a center for excellence in the field of charging electric vehicles, not only by producing the latest chargers locally, but also exporting it to global markets.

Mohamed bin Hindi, CEO of “Bin Hindi Holding”, said that this partnership embodies the company’s vision to invest in the long -term industrial transformation.

This agreement supports the goals of the national investment strategy in promoting foreign direct investment across priority sectors such as renewable energy and advanced manufacturing. It is also in line with the national policy of electric vehicles in the UAE, which aims to raise the percentage of electric vehicles to 50% by 2050.

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