Heavyweight car maker General Motors has resurrected its Hummer sub-brand after 11 years on the sidelines to take on electric vehicle pioneers Rivian and Tesla with the launch of its own fully electric super truck.
Tesla’s oddball Cybertruck was launched with great fanfare in 2019 with deliveries due to begin next year, while Rivian attracted a $700 million investment from Amazon and a further $500 million from Ford to develop a full-sized, electric, dual-cab pick-up and SUV that are due to go on sale this June.
GM is joining the party with GMC sub-brand Hummer becoming an exclusive EV nameplate for a range of models that will start with an all-new 830 horsepower pick-up followed by an SUV due here in 2024.
Electric off-roader
Duncan Aldred, global vice president of Buick and GMC, says the light truck / SUV market continues to boom and it was only natural to add an EV option to the sector.
“Our first quarter 2021 sales showed a 25 per cent growth with about a third of those selling at a price point above any Mercedes or BMW thanks to our premium GMC brand Denali. So we have every confidence of introducing another sub-brand like Hummer to the market,” he says.
Ditching a conventional drivetrain for an electric platform allows designers and engineers to redefine the capabilities of an off-roader and introduce a range of innovations such as CrabWalk, which allows each wheel to steer independently to drive the car diagonally out of tight spots.
Four-wheel steering also gives the Hummer a tiny turning circle of just 10.8 metres, which is roughly the same as GM’s Bolt microcar. With no low-hanging diffs or sumps to scrape, it has extraordinary climbing abilities of 60 per cent grades in forward or reverse, scaling 460-millimetre verticals and fording water more than half a metre deep with 330mm of suspension travel. It can also divert power to a single wheel, keeping the vehicle moving in the toughest conditions.
A boon for remote camping away from powered sites is its 19.2 kilowatt AC power station that can be used as a back-up generator to run a range of devices such as outdoor lighting, water pumps for showers and washing, microwave ovens and air compressors at 120v/25A/3kW, or to jump-charge another electric vehicle at 240v/25A/6kW.
Battery pack
Power comes from a 20-module, double-stacked Ultium battery in the floor made from pouch cells that can be stacked vertically or horizontally, allowing it to be stored in a relatively small space, delivering up to 830hp and 15,591Nm of torque.
GM says it’s capable of getting to 100 kilometres per hour in a supercar-like 3.5 seconds, while returning up to 480km of range on the tarmac.
According to chief engineer Al Oppenheiser, the batteries in the floor have given the Hummer enough rigidity to remove the roof, so a full-length removable infinity roof is standard on the SUV and the pick-up.
“The Hummer’s body protects the battery, while the battery supports the structure, making the battery pack itself a structural element. This rigidity of the floor helps reduce twisting and deformation while providing the stiffness needed to enable a truly open-air experience.”
Out-of-the-world interior
The interior gets an intergalactic theme with the Moon's surface used as inspiration for the graphics on the large 13.4-inch infotainment screen and 12.3-inch driver information stack. Aside from the usual vital signs, the console also updates the driver on energy use, sets up charging schedules and monitors the battery temperature conditioning.
Owners can use their smartphone to enable a number of operations such as approach lighting, unlocking and vehicle operation. Off-road driving has also been simplified with a one-pedal function that uses the regenerative properties of the electric motors to slow the vehicle to a complete stop as the driver lifts off the accelerator. With this, the brake pedal is not needed as Terrain Mode integrates the brake system to give the driver control for slow-speed off-roading such as rock crawling.
Made for the Middle East
Kelly MacDonald, chief marketing officer for General Motors Africa and Middle East, says that while it’s too early to predict local prices, the Hummer EV is coming to the Middle East.
"We are excited and cannot wait to see it on the roads in the Middle East because this is a market that has a strong emotional connection to both GMC and Hummer. Today's reveal further asserts our commitment to bringing world-class trucks and SUVs to the region while also pushing forward our future mobility agenda."
As a guide, prices in the US range from $79,995 to $99,995, with the limited launch release of Edition 1 already sold out in America $105,595.
The new Hummer EV is still three years away from landing in the Middle East so may have competition from the other EV start-ups by then, but it's the first commitment from an established car maker to electrification away from the comfort of an urban environment.
ICC Women's T20 World Cup Asia Qualifier 2025, Thailand
UAE fixtures
May 9, v Malaysia
May 10, v Qatar
May 13, v Malaysia
May 15, v Qatar
May 18 and 19, semi-finals
May 20, final
Gothia Cup 2025
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Difference between fractional ownership and timeshare
Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.
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Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
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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
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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.
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Defined Contribution Plan (DC)
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Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
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The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
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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.”
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The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Zayed Sustainability Prize
