Al-Futtaim Automotive, one of the UAE’s main vehicle distributors, teamed up with Swedish premium electric car brand Polestar to launch sales of its electric vehicles in the country.
The Al-Futtaim Group subsidiary launched online sales of Polestar 2, a premium compact fully electric fastback car, in the Emirates, the company said on Wednesday. The price of the car was not disclosed.
“Polestar is a performance luxury car brand committed to sustainability and improving the society we live in using design and technology to accelerate the shift to sustainable electric mobility,” said Paul Willis, president of Al-Futtaim Automotive.
“It is progressing to deliver a climate-neutral car by 2030 and be a climate-neutral company by 2040. Polestar is a perfect fit for the UAE, whose leadership have announced the strategic target of net-zero emissions by 2050.”
Rising fuel costs and a growing awareness of the dangers of climate change are increasingly convincing people to seek alternatives to traditional modes of transport.
About 29 per cent of UAE residents would consider buying an electric vehicle, a survey conducted last year by Audi Abu Dhabi found.
The Roads and Transport Authority (RTA) in Dubai plans to make public transport completely emission-free by 2050. It has offered electric vehicle owners free parking slots and free Salik tags in Dubai. More than 750 charging stations have been set up across the country.
A number of electric car brands operate in the UAE today, with Tesla an early entrant in the market.
Some of the electric cars available in the UAE today include Tesla Model S/X/3, Chevrolet Bolt EV, Audi e-tron, Mercedes Benz EQC and Renault ZOE.
“Our commitment to produce a climate-neutral car by 2030 will require an uncompromising approach to both design and technology,” said Nils Moesko, head of strategy and business development at Polestar.
The first Polestar Destination — a large-scale Polestar retail store — in the UAE is expected to open in Dubai this year, the company's statement said.
Sweden-headquartered Polestar was established by Volvo Cars and Geely Holding as a standalone premium EV manufacturer in 2017. Its vehicles are currently on the road in markets across Europe, North America, China and Asia Pacific.
By 2023, the company plans to have its cars in about 30 markets. Polestar cars are currently manufactured in two plants in China, with additional manufacturing planned in the US.
Last September, Polestar said it would list as a public company on the Nasdaq.
Polestar has produced two electric cars so far. The Polestar 1 was built between 2019 and 2021 as a low-volume electric hybrid GT. The Polestar 2 is the company’s first fully electric, high volume car, with the model range including three variants.
The car has been designed with sustainability in mind, featuring what the manufacturer calls an “all-vegan” interior.
The Swedish car brand plans to launch one new EV a year from 2022, starting with Polestar 3, its first electric SUV. Polestar 4, a smaller electric SUV coupe, is likely to be launched next year.
The Polestar 5 electric performance four-door GT is planned for launch in 2024.
Al-Futtaim Automotive is one of five divisions within the Al-Futtaim Group. The company has been the sole distributor for Toyota in the UAE for more than six decades.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE cricketers abroad
Sid Jhurani is not the first cricketer from the UAE to go to the UK to try his luck.
Rameez Shahzad Played alongside Ben Stokes and Liam Plunkett in Durham while he was studying there. He also played club cricket as an overseas professional, but his time in the UK stunted his UAE career. The batsman went a decade without playing for the national team.
Yodhin Punja The seam bowler was named in the UAE’s extended World Cup squad in 2015 despite being just 15 at the time. He made his senior UAE debut aged 16, and subsequently took up a scholarship at Claremont High School in the south of England.
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
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How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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MATCH RESULT
Al Jazira 3 Persepolis 2
Jazira: Mabkhout (52'), Romarinho (77'), Al Hammadi (90' 6)
Persepolis: Alipour (42'), Mensha (84')
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
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- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
KILLING OF QASSEM SULEIMANI
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer