UAE – Mubasher: Dubai-based Emirates Transport has signed a memorandum of understanding (MoU) with China's NEV Investment to establish a joint venture (JV) in the UAE.
The two parties will team up to handle the development, construction, marketing, operation, and management of the new energy vehicle (NEV) project, according to a press release.
The collaboration comes in line with the “Make it in the Emirates” and “Operation 300bn” initiatives that aim to boost the manufacturing industry’s contribution to the UAE economy.
Moreover, the new project is expected to provide job opportunities and support small and medium-sized enterprises (SMEs) across the UAE.
Leo Lu, Chairman of NEV Investment, said: “We are delighted to be a key player in creating future industries by leveraging existing Chinese NEV technologies and introducing them to the local as well as regional markets, jointly with Emirates Transport.”
