The Shams+ stand at the Electric Vehicle Innovation Summit. Photo: Al Masaood
The Shams+ stand at the Electric Vehicle Innovation Summit. Photo: Al Masaood
The Shams+ stand at the Electric Vehicle Innovation Summit. Photo: Al Masaood
The Shams+ stand at the Electric Vehicle Innovation Summit. Photo: Al Masaood

Business

Road to Net Zero

Abu Dhabi's Al Masaood Group launches first UAE-built charging solution for EVs

The Shams+ solar-powered technology is expected to be introduced in the third quarter and can also be used by marine vehicles

Alvin R Cabral
Alvin R Cabral

May 23, 2022

  • English
  • Arabic

Abu Dhabi's Al Masaood Group launched the first UAE-made charging solution for electric vehicles on Monday, in line with the growth of green mobility in the country.

The Shams+ solution, released by Al Masaood Power Division, is a fully fledged battery-charging system powered by solar energy that can top up vehicles in 25 minutes and has an extensive network of stations, the company announced at the inaugural Electric Vehicle Innovation Summit on Monday.

Shams+, which is expected to be rolled out in the third quarter of 2022, will also be compatible with hybrid marine vehicles, Al Masaood said.

“We aim to deliver better access to connectivity-enabled and seamless plug-and-charge experience," said Rasso Bartenschlager, general manager of Al Masaood Power Division.

"It will precipitate wider adoption of EVs and marine vessels in the country and the rest of the Gulf region, thereby reducing carbon emissions and helping fast-track the goals of the UAE Net Zero 2050 strategic initiative.”

EVs are growing in popularity as more users see their benefits compared to traditional petrol vehicles, but one of the key requirements to increasing adoption is to grow the network of charging stations.

The UAE has focused on increasing charging stations in recent years. The Dubai Electricity and Water Authority recently said its charging network has risen to 325 stations, as the number of registered EVs in the emirate rose to 5,107 as of January 31 this year from 71 on December 31, 2015.

That has provided more than 8,800 megawatt hours, enabling motorists to travel more than 58 million kilometres since 2015 while cutting refuelling costs by about three quarters, Dewa said.

The UAE aims to have 42,000 electric vehicles on the roads by the end of the next decade, as part of its net zero target.

  • An Audi e-tron at the Electric Vehicle Innovation Summit (EVIS) being held at the Abu Dhabi National Exhibition Centre. All photos by Antonie Robertson / The National
    An Audi e-tron at the Electric Vehicle Innovation Summit (EVIS) being held at the Abu Dhabi National Exhibition Centre. All photos by Antonie Robertson / The National
  • A Nissan Ariya electric model at EVIS.
    A Nissan Ariya electric model at EVIS.
  • Visitors check out an electric vehicle at the show.
    Visitors check out an electric vehicle at the show.
  • An electric Peugeot model at EVIS.
    An electric Peugeot model at EVIS.
  • Visitors watch as an electric car is charged at EVIS.
    Visitors watch as an electric car is charged at EVIS.
  • Visitors check out the UAE's first locally produced electric car, Al Damani. The vehicle is manufactured by the M Glory Group.
    Visitors check out the UAE's first locally produced electric car, Al Damani. The vehicle is manufactured by the M Glory Group.
  • The Ferrari stand at the electric vehicle car show.
    The Ferrari stand at the electric vehicle car show.
  • The Emirates Global Motor Electric stand. The UAE is seeking to position itself as a leader in the next generation of transport.
    The Emirates Global Motor Electric stand. The UAE is seeking to position itself as a leader in the next generation of transport.
  • A Mercedes Benz electric car on display at the show.
    A Mercedes Benz electric car on display at the show.
  • Tesla is also exhibiting its cars at the show, the Mena region's first exhibition focused on electric vehicles.
    Tesla is also exhibiting its cars at the show, the Mena region's first exhibition focused on electric vehicles.
  • The interior of an Audi e-tron.
    The interior of an Audi e-tron.

Al Masaood Power Division said its charging stations will be built with rest areas for added convenience.

“We also want to highlight that such a value-added solution is an addition to our growing large-scale energy solution projects that are completely made in the country," Mr Bartenschlager said.

COMPANY PROFILE

Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar

Based: Dubai, UAE

Founded: 2014

Number of employees: 36

Sector: Logistics

Raised: $2.5 million

Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE

Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

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: six-litre W12 twin-turbo

Transmission: eight-speed dual clutch auto

Power: 626bhp

Torque: 900Nm

Price: Dh940,160 (plus VAT)

On sale: Q1 2020

TRAINING FOR TOKYO

A typical week's training for Sebastian, who is competing at the ITU Abu Dhabi World Triathlon on March 8-9:

  • Four swim sessions (14km)
  • Three bike sessions (200km)
  • Four run sessions (45km)
  • Two strength and conditioning session (two hours)
  • One session therapy session at DISC Dubai
  • Two-three hours of stretching and self-maintenance of the body

ITU Abu Dhabi World Triathlon

For more information go to www.abudhabi.triathlon.org.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

RESULT

Bayern Munich 5 Eintrracht Frankfurt 2
Bayern: Goretzka (17'), Müller (41'), Lewandowski (46'), Davies (61'), Hinteregger (74' og)    
Frankfurt: Hinteregger (52', 55')

Sheer grandeur

The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.

A clear distinction between the residences and the Raffles hotel with the amenities operated separately.

Cricket World Cup League 2

UAE squad

Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind

Fixtures

Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE

While you're here
LIVERPOOL%20TOP%20SCORERS
%3Cp%3E(Premier%20League%20only)%3Cbr%3EMohamed%20Salah%20129%3Cbr%3ERobbie%20Fowler%20128%3Cbr%3ESteven%20Gerrard%20120%3Cbr%3EMichael%20Owen%20118%3Cbr%3ESadio%20Mane%2090%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

US tops drug cost charts

The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.

Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.

In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.

Some of the costliest drugs worldwide include Lipitor for high cholesterol. 

The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.

High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.

CREW
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERajesh%20A%20Krishnan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ETabu%2C%20Kareena%20Kapoor%20Khan%2C%20Kriti%20Sanon%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A
The story in numbers

18

This is how many recognised sects Lebanon is home to, along with about four million citizens

450,000

More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps

1.5 million

There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m

73

The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association

18,000

The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme

77,400

The number of people believed to be affected by the current nationality law, according to the 2009 UN study

4,926

This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee

The biog

Family: Parents and four sisters

Education: Bachelor’s degree in business management and marketing at American University of Sharjah

A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls

Likes reading: autobiographies and fiction

Favourite holiday destination: Italy

Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning

Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes

Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure

The specs

Engine: Turbocharged four-cylinder 2.7-litre

Power: 325hp

Torque: 500Nm

Transmission: 10-speed automatic

Price: From Dh189,700

On sale: now

The specs: 2018 Maxus T60

Price, base / as tested: Dh48,000

Engine: 2.4-litre four-cylinder

Power: 136hp @ 1,600rpm

Torque: 360Nm @ 1,600 rpm

Transmission: Five-speed manual

Fuel consumption, combined: 9.1L / 100km

Updated: May 24, 2022, 6:16 PM
SustainabilityAbu DhabiUAE