Abu Dhabi has signed agreements with 25 global companies to join its newly established cluster for the development of high-tech vehicles over the next three months, as part of the emirate's push into advanced manufacturing and sustainable mobility.
The companies joining the Smart and Autonomous Vehicle Industry (Savi) cluster in Masdar City specialise in autonomous taxis, underwater drones, robotic installations and artificial intelligence, Massimo Falcioni, chief competitiveness officer at the Abu Dhabi Investment Office (Adio), told The National, on Tuesday.
The 25 companies signed on by Adio are from Korea, China and the US, he said on the sidelines of the UN Conference on Trade and Development (Unctad)'s World Investment Forum in Abu Dhabi.
These are in addition to the six companies that were announced earlier this week, bringing the total to more than 30 companies at Savi.
Together they represent "several tens of millions of dollars" in investment from the diverse companies ranging from start-ups to large, well-established manufacturers, Mr Falcioni said.
"To be a smart city you will need a lot more usage of this kind of autonomous transportation, reducing CO2 emissions because these vehicles optimise routes and integrating data between the vehicle and the passenger," he said.
"So this is an important step by Abu Dhabi towards becoming a smart city."
On October 16, Adio said it signed deals with commercial helicopter operator Abu Dhabi Aviation and Chinese electric vehicle brand Neta Auto to join Savi. It also announced a partnership with California-based aircraft company Archer Aviation to start all-electric air taxi operations in the UAE in 2026.
On October 15, Adio said it signed agreements with California-based electric aircraft maker Joby Aviation, Chinese autonomous vehicle start-up WeRide and the UAE's unmanned maritime systems company Marakeb Technologies to join the high-tech cluster.
"I will not be surprised in no more than 12 to 18 months to see to see big, big development of autonomous vehicles," Mr Falcioni said.
The Masdar City-based cluster, which was announced on October 13, will develop smart and autonomous vehicles for air, land and sea use.
It is expected to contribute between Dh90 billion ($24.5 billion) and Dh120 billion ($32.7 billion) to the UAE's economy and generate up to 50,000 jobs, officials said last week.
The move comes as the UAE strives to increase the contribution of its industrial sector to the gross domestic product, develop advanced technologies in manufacturing, introduce smart mobility into the mainstream market and work on sustainable transport systems.
More from Neighbourhood Watch:
In numbers
- Number of children under five will fall from 681 million in 2017 to 401m in 2100
- Over-80s will rise from 141m in 2017 to 866m in 2100
- Nigeria will become the world’s second most populous country with 791m by 2100, behind India
- China will fall dramatically from a peak of 2.4 billion in 2024 to 732 million by 2100
- an average of 2.1 children per woman is required to sustain population growth
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Company%20profile
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What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
