ABU DHABI, 17th June, 2023 (WAM) — Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo to develop the automotive industry in Abu Dhabi by establishing a technology hub to manufacture autonomous and electric car components in the emirate. The hub will develop industrial solutions to support local electric car startups in Abu Dhabi as well as cooperate with the local Startups electric vehicle companies. Valeo plans to explore new areas of development by integrating its advanced technologies and its sustainability vision in green cities. The agreement to design and manufacture electric and autonomous driving car components will improve smart and sustainable mobility and contribute to the development of transport industries, which is one of the subsectors targeted by Abu Dhabi Industrial Strategy (ADIS) and its initiatives, including Industry 4.0’s innovative technologies to drive Abu Dhabi’s transition towards a smart, circular and sustainable economy. Rashed Abdulkarim Al Blooshi, Under-Secretary of ADDED, attended the signing ceremony of the agreement, which was signed by Arafat Al Yafei, Executive Director of the Industrial Development Bureau (IDB), the ADDED’s arm to develop industrial sector in Abu Dhabi, and Tamer Aly, Group Technical Centre Vice President and Valeo Egypt General Manager, in Abu Dhabi. Arafat Al Yafei, Executive Director of Industrial Development Bureau (IDB), said, “We look forward to act on this agreement with Valeo as part of our ongoing efforts to achieve the ambitious objectives of the Abu Dhabi Industrial Strategy (ADIS). This cooperation to develop smart mobility and set up a technology hub for electric, autonomous car components in Abu Dhabi is in line with our initiatives to ensure that growth, sustainability, and advanced technologies go hand in hand in all aspects of our socio-economic development.” Tamer Aly said, “I am really happy about this MoU signing that allows Valeo, the market leader in design and producing high technology automotive components for autonomous and electric cars, to have a footprint in Abu Dhabi to avail their components and technologies to the rising up automotive industry in Abu Dhabi, and as well transferring this experience to the high tech and advanced education societies in Abu Dhabi.”
Source: Emirates News Agency (WAM)