UAE electric motorbike company Sulmi plans to build 200 limited-edition e-bikes this year to test the consumer market in the Emirates, founder and chief executive Rashid Al Salmi has said.
The company, which launched the prototype of its first model, the EB-One, for businesses in July 2023, has decided to create premium electric motorbikes for consumers because of strong demand, Mr Al Salmi said.
“We decided to go direct to consumer, D2C, and this is a limited-edition motorbike, 200 only. We call it Founder Edition, and people will be able to have the first properly made automotive product by Emiratis and a multinational team who are from the industry, from design and engineering,” he told The National.
“It's a premium model. It's not very expensive, but it's limited edition, so it could be a good price, but it will be unique.”
While he did not reveal the exact pricing plan, Mr Al Salmi said it would not be more than Dh60,000 ($16,338). The company has started taking bookings, with some slots filled. It plans to have a launch event where riders can road test the bike. No bookings will be taken once the run of 200 is sold out, Mr Al Salmi added.
The bike is fully 3D printed with an advanced manufacturing process, using the labs of Sulmi's partners – the Sharjah Research Technology and Innovation Park and Dubai In5 facilities.
Sulmi, which was founded in 2019 as an automotive research and development company, created the EB-One, the first e-motorbike entirely designed and built in the Emirates, in 2023. The bike, which has a top speed of 150 kph, can travel 300km on a single charge. It is powered by a 10.4kW battery than can be charged from 0 to 80 per cent in an hour. In October 2023, Sharjah Police said it would add the bike to its traffic fleet.
The EB-One has patented its SEU technology (the energy unit), which is related to the battery methodology and energy in design and engineering. The bike also implements AI technologies through the Sulmi Rider Assist System, which is designed to protect the rider from accidents and collects important data.
Mr Al Salmi has been driving an “engineering prototype” of the e-bike, to test the battery technology, drivetrain “and most importantly, the engineering of the frame and subframe (chassis)".
“We have been testing it for more than 14 months, and it's been with me and registered for the road in Dubai for around seven months,” he said.
“In the automotive industry, it requires a lot of iterations [for a vehicle] since we did something unusual in the industry, and, adding to that, it's within the Menat region, where the talent and [automotive industry] ecosystem has a lot of limitations,” Mr Al Salmi said.
The new bikes will be compatible with all European standard chargers, and he has been using them on local roads.
“We are actually from the automotive industry, and … we've been sitting with the delivery guys and customers and what they're concerned about. You can charge it anywhere, and even with a Tesla charger, which is using European standard, not American Standard, which is CCS [combined charging system],” he said.
Global sales of electric passenger vehicles are expected to increase by nearly a third in 2025, a December study by S&P Global found.
Sales of the most popular type of EV are forecast to hit 15.1 million next year, which would be about 30 per cent up on this year's estimated 11.6 million, the New York ratings agency's mobility unit said.
The electric motorbike market, in particular, is projected to rise at a compound annual growth rate of 10.2 per cent between 2022 and 2030, reaching around $109.5 billion, according to Statista.
Mr Al Salmi said he is confident about demand, and has had people approach him when he is on his bike, appreciating its design and enquiring about it.
“We are [hoping] to see the limited-edition bike [on the road] by this year … because it's plug and play,” he said. It uses some of the company’s patented technology, including for the battery, and the vehicles will be assembled locally.
Currently production is 75 per cent to 80 per cent complete, and "now we are working for the next two months to build the production model ready to sell", he said.
“We are focused by this year to sell, build and deliver the 200 bikes. Next year, [we will shift back to] B2B [business to business],” Mr Al Salmi added.
The UAE has been pushing its local manufacturing strategy and launched its Operation 300bn plan in 2021 to position the country as an industrial centre by 2031.
The 10-year strategy focuses on increasing the industrial sector’s contribution to gross domestic product to Dh300 billion by 2031, from Dh133 billion in 2021.
The Ministry of Industry and Advanced Technology, which is carrying out the plan, will host its annual Make it in the Emirates forum in May, featuring “a record number of exhibiting brands, companies, start-ups, and entrepreneurs”.
The event will highlight the strategic role of advanced technologies, production localisation and cross-country partnerships in manufacturing, the ministry said.
Scores
Scotland 54-17 Fiji
England 15-16 New Zealand
The Sky Is Pink
Director: Shonali Bose
Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf
Three stars
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
AUSTRALIA SQUAD
Aaron Finch (captain), Ashton Agar, Alex Carey, Pat Cummins, Glenn Maxwell, Ben McDermott, Kane Richardson, Steve Smith, Billy Stanlake, Mitchell Starc, Ashton Turner, Andrew Tye, David Warner, Adam Zampa
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Roll of honour 2019-2020
Dubai Rugby Sevens
Winners: Dubai Hurricanes
Runners up: Bahrain
West Asia Premiership
Winners: Bahrain
Runners up: UAE Premiership
UAE Premiership
Winners: Dubai Exiles
Runners up: Dubai Hurricanes
UAE Division One
Winners: Abu Dhabi Saracens
Runners up: Dubai Hurricanes II
UAE Division Two
Winners: Barrelhouse
Runners up: RAK Rugby
LEADERBOARD
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SPEC%20SHEET%3A%20APPLE%20M3%20MACBOOK%20AIR%20(13%22)
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The%20specs
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The biog
Born: High Wycombe, England
Favourite vehicle: One with solid axels
Favourite camping spot: Anywhere I can get to.
Favourite road trip: My first trip to Kazakhstan-Kyrgyzstan. The desert they have over there is different and the language made it a bit more challenging.
Favourite spot in the UAE: Al Dhafra. It’s unique, natural, inaccessible, unspoilt.
The biog
Name: Salem Alkarbi
Age: 32
Favourite Al Wasl player: Alexandre Oliveira
First started supporting Al Wasl: 7
Biggest rival: Al Nasr
More on Coronavirus in France
The five new places of worship
Church of South Indian Parish
St Andrew's Church Mussaffah branch
St Andrew's Church Al Ain branch
St John's Baptist Church, Ruwais
Church of the Virgin Mary and St Paul the Apostle, Ruwais
Ads on social media can 'normalise' drugs
A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.
The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.
Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.
Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.
Babumoshai Bandookbaaz
Director: Kushan Nandy
Starring: Nawazuddin Siddiqui, Bidita Bag, Jatin Goswami
Three stars
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
info-box
COMPANY PROFILE
Company name: Happy Tenant
Started: January 2019
Co-founders: Joe Moufarrej and Umar Rana
Based: Dubai
Sector: Technology, real-estate
Initial investment: Dh2.5 million
Investors: Self-funded
Total customers: 4,000
The specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 849Nm
Range: 456km
Price: from Dh437,900
On sale: now
Results
5pm: Maiden (PA) Dh80,000 (Turf) 1,000mm, Winners: Mumayaza, Fabrice Veron (jockey), Eric Lemartinel (trainer)
5.30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 (T) 2,200m, Winners: Sharkh, Pat Cosgrave, Helal Al Alawi
6pm: The President’s Cup Prep - Conditions (PA) Dh100,000 (T) 2,200m, Winner: Somoud, Richard Mullen, Jean de Roualle
6.30pm: Handicap (PA) Dh90,000 (T) 1,600m, Winner: Harrab, Ryan Curatolo, Jean de Roualle
7pm: Abu Dhabi Equestrian Gold Cup - Prestige (PA) Dh125,000 (T) 1,600m, Winner: Hameem, Adrie de Vries, Abdallah Al Hammadi
7.30pm: Al Ruwais – Group 3 (PA) Dh300,000 (T) 1,200m, Winner: AF Alwajel, Tadhg O’Shea, Ernst Oertel
8pm: Maiden (TB) Dh80,000 (T) 1,400m, Winner: Nibras Passion, Bernardo Pinheiro, Ismail Mohammed
EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
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How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
A Prayer Before Dawn
Director: Jean-Stephane Sauvaire
Starring: Joe Cole, Somluck Kamsing, Panya Yimmumphai
Three stars
The specs: 2018 Nissan Patrol Nismo
Price: base / as tested: Dh382,000
Engine: 5.6-litre V8
Gearbox: Seven-speed automatic
Power: 428hp @ 5,800rpm
Torque: 560Nm @ 3,600rpm
Fuel economy, combined: 12.7L / 100km
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now