Al-Futtaim Group is the Strategic E-Mobility Partner of Cop28 - a major alliance and a significant step in steering the sustainability mission of the group. Supplied Image
Al-Futtaim Group is the Strategic E-Mobility Partner of Cop28 - a major alliance and a significant step in steering the sustainability mission of the group. Supplied Image

Al-Futtaim Automotive’s mission to accelerate EV adoption with strong partners



Taking the route to a greener mobility future is a prime commitment for Al-Futtaim Automotive - one which it says is readily achievable through strong collaborative efforts.

The UAE’s largest automotive distributor firmly recognises the importance of pivoting the industry towards sustainability and is incorporating leading green-mobility players across its value stream.

It is actually 15 years since Al-Futtaim Automotive planted the seeds of a green revolution when the company pioneered alternative propulsion in the country by launching hybrid electric vehicles in collaboration with Toyota.

Now that commitment extends across the entire business, from the like-minded partners it works with through to the services that it launches.

That 2008 greener mindset set Al-Futtaim Automotive on a course towards not only its own sustainable future but the start of a significant, influential role in driving the UAE's transition to cleaner, greener transportation options.

In lockstep with much of the world, that sustainability journey has, of course, ramped up in recent times.

And in the past two years, Al-Futtaim Automotive’s strategy has seen it spearhead a new role as the company builds a new green mobility industry in the UAE.

This dedication has been made possible through several actions, not least the creation of a dedicated new entity - Al-Futtaim Electric Mobility Company - which is focused on democratising the electric vehicle market and developing strategies to accelerate and sustain growth of EV adoption.

Al-Futtaim Automotive has made a firm commitment to build a comprehensive new e-mobility ecosystem in the UAE.

This extends from bringing world-renowned electric brands into the country to introducing its own charging solution, Charge2Moov, as well as the region’s first IMI-certified electric mobility training centre to drive EV after-sales expertise in the UAE.

Added to that, Al-Futtaim Automotive has a mission to make electric vehicles accessible to all through a diverse portfolio of EV models, alongside introducing innovative ownership options to accelerate their adoption, including customer leasing and subscription.

Endorsing this potent strategy is the announcement of Al-Futtaim Group as the Strategic E-Mobility Partner of Cop28 - a major alliance and a significant step in steering the sustainability mission of the group.

As part of this strategic partnership, Al-Futtaim Group will deliver a fleet of 370 electrified passenger cars, sports utility vehicles, and buses to be utilised for the globally-significant event, happening at Expo City Dubai from November 30, until December 12. The company will also install its Charge2Moov electric charging stations for the gathering.

Going forward, Al-Futtaim Automotive - one of the major divisions of the Al-Futtaim Group - has pledged to deliver 50 per cent new energy vehicles (NEVs) and install 10 per cent of the UAE’s charging stations by 2030.

Helping to empower the company’s strong sustainable vision and accompanying strategy are valuable partners that it identified as sharing its goals, namely BYD, Polestar, Volvo, Volvo Group, River and Charge2Moov with Siemens.

In partnership with German company Siemens, Al-Futtaim Electric Mobility Company is able to offer a wide range of charging solutions for its customers at a variety of prices.

Charge2Moov is a reliable smart home charger that comes with fast and efficient charging capabilities, enabling EV drivers to seamlessly power their EV with a five-year warranty for peace of mind. Charge2Moov brings rapid-charging performance of up to 22 kW, adjustable to individual requirements.

Al Futtaim’s investment in Indian scooter company River underscores its commitment to developing a full electric ecosystem in the UAE, ranging from commercial vehicles to passenger cars, and last-mile connectivity solutions.

River was the leading two-wheeler start-up in Al-Futtaim’s search and evaluation of more than 50 companies across the globe.

It said it stood out with an outstanding leadership team and relentless commitment to in-house product development that were a testament to River’s focus on producing an exceptional vehicle in less than two years.

The Polestar Project 0, meanwhile, is Swedish automotive brand Polestar’s goal of creating the first truly climate-neutral car by 2030.

Al-Futtaim says the scope of the project is to identify and eliminate all greenhouse gas emissions from the extraction of raw materials, through to when the car is delivered to a customer, as well as end-of-life handling.

The Polestar 0 project aims to cut carbon emissions by changing the way that cars are made, rather than using traditional processes and then planting trees to offset CO2 - essentially encompassing collaboration across the entire development process and value chain, from suppliers to retailers.

In another dynamic partnership, BYD - the world’s leading new energy vehicle manufacturer - has been working on electrification of urban public transport to reduce global greenhouse gas emissions, with a vision to “Cool the Earth By 1°C”.

Perhaps a more familiar name to the public, as a leader in sustainability Volvo Cars says it is committed to reducing its lifecycle emissions per vehicle by 40 per cent by 2025, and to producing only fully electric vehicles by 2030.

Ahead of that date, Volvo Cars says it aims to become a leader in the fast-growing premium EV market.

Likewise, Volvo Group, has stressed commitment to shaping the future landscape of sustainable transport and infrastructure solutions.

Its goals include offering a net-zero emission truck range by 2040, while in its bus division the ambition is to reduce emissions from the group’s operations by 50 per cent and its vehicles by 40 per cent per kilometre by 2030.

Within Volvo Group’s construction equipment division, the aim is to achieve net-zero value chain greenhouse gas emissions by 2040, with significant reductions by 2030.

Al-Futtaim Automotive says its greener vehicle vision is attaining reality at speed with a defined strategy and strong partnerships.

“Our sustainable journey has been progressing at pace and our electric vehicles goals are gaining traction,” said Antoine Barthes, Vice-President of Al-Futtaim Automotive.

“With the collaboration of these other great innovative companies we can ensure the UAE’s electric vehicle revolution is rapidly realised and contributes significantly to the sustainable future we all wish for.”

The biog

Favourite film: The Notebook  

Favourite book: What I know for sure by Oprah Winfrey

Favourite quote: “Social equality is the only basis of human happiness” Nelson Madela.           Hometown: Emmen, The Netherlands

Favourite activities: Walking on the beach, eating at restaurants and spending time with friends

Job: Founder and Managing Director of Mawaheb from Beautiful Peopl

The Dictionary of Animal Languages
Heidi Sopinka
​​​​​​​Scribe

Honeymoonish

Director: Elie El Samaan

Starring: Nour Al Ghandour, Mahmoud Boushahri

Rating: 3/5

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

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.”

The specs

Engine: 2.0-litre turbocharged 4-cyl
Transmission: 8-speed auto
Power: 300bhp (GT) 330bhp (Modena)
Torque: 450Nm
Price: Dh299,000 (GT), Dh369,000 (Modena)
On sale: now

THE SWIMMERS

Director: Sally El-Hosaini

Stars: Nathalie Issa, Manal Issa, Ahmed Malek and Ali Suliman 

Rating: 4/5

T20 World Cup Qualifier fixtures

Tuesday, October 29

Qualifier one, 2.10pm – Netherlands v UAE

Qualifier two, 7.30pm – Namibia v Oman

Wednesday, October 30

Qualifier three, 2.10pm – Scotland v loser of qualifier one

Qualifier four, 7.30pm – Hong Kong v loser of qualifier two

Thursday, October 31

Fifth-place playoff, 2.10pm – winner of qualifier three v winner of qualifier four

Friday, November 1

Semi-final one, 2.10pm – Ireland v winner of qualifier one

Semi-final two, 7.30pm – PNG v winner of qualifier two

Saturday, November 2

Third-place playoff, 2.10pm

Final, 7.30pm

MATCH INFO

Kolkata Knight Riders 245/6 (20 ovs)
Kings XI Punjab 214/8 (20 ovs)

Kolkata won by 31 runs

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

Sour Grapes

Author: Zakaria Tamer
Publisher: Syracuse University Press
Pages: 176

Bert van Marwijk factfile

Born: May 19 1952
Place of birth: Deventer, Netherlands
Playing position: Midfielder

Teams managed:
1998-2000 Fortuna Sittard
2000-2004 Feyenoord
2004-2006 Borussia Dortmund
2007-2008 Feyenoord
2008-2012 Netherlands
2013-2014 Hamburg
2015-2017 Saudi Arabia
2018 Australia

Major honours (manager):
2001/02 Uefa Cup, Feyenoord
2007/08 KNVB Cup, Feyenoord
World Cup runner-up, Netherlands

2024 Dubai Marathon Results

Women’s race:
1. Tigist Ketema (ETH) 2hrs 16min 7sec
2. Ruti Aga (ETH) 2:18:09
3. Dera Dida (ETH) 2:19:29
Men's race:
1. Addisu Gobena (ETH) 2:05:01
2. Lemi Dumicha (ETH) 2:05:20
3. DejeneMegersa (ETH) 2:05:42

SPECS

Engine: 6-cylinder 3-litre, with petrol and diesel variants
Transmission: 8-speed automatic
Power: 286hp (petrol), 249hp (diesel)
Torque: 450Nm (petrol), 550Nm (diesel)
Price: Starting at $69,800
On sale: Now

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.

Fast X

Director: Louis Leterrier

Stars: Vin Diesel, Michelle Rodriguez, Jason Statham, Tyrese Gibson, Ludacris, Jason Momoa, John Cena, Jordana Brewster, Nathalie Emmanuel, Sung Kang, Brie Larson, Helen Mirren and Charlize Theron

Rating: 3/5

Company Profile

Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

Star Wars: Episode I – The Phantom Menace

Developer: Big Ape Productions
Publisher: LucasArts
Consoles: PC, PlayStation
Rating: 2/5

CRICKET WORLD CUP QUALIFIER, ZIMBABWE

UAE fixtures

Monday, June 19

Sri Lanka v UAE, Queen’s Sports Club

Wednesday, June 21

Oman v UAE, Bulawayo Athletic Club

Friday, June 23

Scotland v UAE, Bulawayo Athletic Club

Tuesday, June 27

Ireland v UAE, Bulawayo Athletic Club

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home. 

HEY MERCEDES, WHAT CAN YOU DO FOR ME?

Mercedes-Benz's MBUX digital voice assistant, Hey Mercedes, allows users to set up commands for:

• Navigation

• Calls

• In-car climate

• Ambient lighting

• Media controls

• Driver assistance

• General inquiries such as motor data, fuel consumption and next service schedule, and even funny questions

There's also a hidden feature: pressing and holding the voice command button on the steering wheel activates the voice assistant on a connected smartphone – Siri on Apple's iOS or Google Assistant on Android – enabling a user to command the car even without Apple CarPlay or Android Auto

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

Specs: 2024 McLaren Artura Spider

Engine: 3.0-litre twin-turbo V6 and electric motor
Max power: 700hp at 7,500rpm
Max torque: 720Nm at 2,250rpm
Transmission: Eight-speed dual-clutch auto
0-100km/h: 3.0sec
Top speed: 330kph
Price: From Dh1.14 million ($311,000)
On sale: Now

The five pillars of Islam
The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat 

Results

6.30pm: Maiden Dh165,000 (Dirt) 1,600m

Winner: Celtic Prince, David Liska (jockey), Rashed Bouresly (trainer).

7.05pm: Conditions Dh240,000 (D) 1,600m

Winner: Commanding, Richard Mullen, Satish Seemar.

7.40pm: Handicap Dh190,000 (D) 2,000m

Winner: Grand Argentier, Pat Dobbs, Doug Watson.

8.15pm: Handicap Dh170,000 (D) 2,200m

Winner: Arch Gold, Sam Hitchcott, Doug Watson.

8.50pm: The Entisar Listed Dh265,000 (D) 2,000m

Winner: Military Law, Antonio Fresu, Musabah Al Muhairi.

9.25pm: The Garhoud Sprint Listed Dh265,000 (D) 1,200m

Winner: Ibn Malik, Dane O’Neill, Musabah Al Muhairi.

10pm: Handicap Dh185,000 (D) 1,400m

Winner: Midnight Sands, Pat Dobbs, Doug Watson.

LA LIGA FIXTURES

Thursday (All UAE kick-off times)

Sevilla v Real Betis (midnight)

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

Libya's Gold

UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.

The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.

Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.

A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.

Updated: December 04, 2023, 2:34 AM