emirates7 - Abdulla bin Touq Al Marri, UAE Minister of Economy, met with officials from Peec Mobility to discuss the company’s plans for the UAE market and its role in advancing sustainable transportation and the circular economy.
The meeting is part of the Ministry’s broader economic engagement initiative aimed at fostering dialogue with the private sector.
During the discussion, Bin Touq emphasized the UAE’s commitment, under the guidance of its leadership, to implementing policies that promote the circular economy in line with global standards. He highlighted the UAE Circular Economy Policy 2031, which positions the private sector as a key player in achieving sustainability goals. This policy focuses on embedding sustainable practices across key sectors, including transportation, manufacturing, food, and infrastructure, to enhance the country’s climate resilience and support its economic and social development objectives.
He stated, “Transforming the UAE’s transportation systems into sustainable, environmentally friendly models is vital to reducing fuel consumption and carbon emissions. The meeting with Peec Mobility marks an important step toward strengthening collaboration in circular economy practices and exploring advancements in the electric vehicle sector.”
Ahmed Zachariah Faizal, CEO and Founder of Peec Mobility, expressed confidence in the UAE as an ideal environment for innovative solutions. He noted that the nation’s commitment to societal values aligns with Peec’s mission to electrify and repurpose vehicles, demonstrating the potential of circularity in modern societies.
“We aim to showcase the power of circularity through the repurposing of shared transport vehicles in the UAE,” Faizal added. “Our hope is that the UAE will inspire global transformation as it so often leads by example.”
The meeting covered technologies for converting older gasoline-powered vehicles into electric ones, supporting the UAE’s goals to reduce carbon emissions and increase the share of electric and hybrid vehicles to 50% of all vehicles by 2050. It also included a showcase of Peec Mobility’s range of competitively priced electric vehicles for individuals and businesses, as well as an overview of the company’s progress since its establishment in 2020. Peec has attracted $12 million in investments to date.
The meeting is part of the Ministry’s broader economic engagement initiative aimed at fostering dialogue with the private sector.
During the discussion, Bin Touq emphasized the UAE’s commitment, under the guidance of its leadership, to implementing policies that promote the circular economy in line with global standards. He highlighted the UAE Circular Economy Policy 2031, which positions the private sector as a key player in achieving sustainability goals. This policy focuses on embedding sustainable practices across key sectors, including transportation, manufacturing, food, and infrastructure, to enhance the country’s climate resilience and support its economic and social development objectives.
He stated, “Transforming the UAE’s transportation systems into sustainable, environmentally friendly models is vital to reducing fuel consumption and carbon emissions. The meeting with Peec Mobility marks an important step toward strengthening collaboration in circular economy practices and exploring advancements in the electric vehicle sector.”
Ahmed Zachariah Faizal, CEO and Founder of Peec Mobility, expressed confidence in the UAE as an ideal environment for innovative solutions. He noted that the nation’s commitment to societal values aligns with Peec’s mission to electrify and repurpose vehicles, demonstrating the potential of circularity in modern societies.
“We aim to showcase the power of circularity through the repurposing of shared transport vehicles in the UAE,” Faizal added. “Our hope is that the UAE will inspire global transformation as it so often leads by example.”
The meeting covered technologies for converting older gasoline-powered vehicles into electric ones, supporting the UAE’s goals to reduce carbon emissions and increase the share of electric and hybrid vehicles to 50% of all vehicles by 2050. It also included a showcase of Peec Mobility’s range of competitively priced electric vehicles for individuals and businesses, as well as an overview of the company’s progress since its establishment in 2020. Peec has attracted $12 million in investments to date.