EV Charging Stations Increased 60% Across UAE in 3 Years

UAE Minister of Energy and Infrastructure Suhail al-Mazrouei speaks at the second edition of the Electric Vehicles Innovation Summit (EVIS2023). (WAM)
UAE Minister of Energy and Infrastructure Suhail al-Mazrouei speaks at the second edition of the Electric Vehicles Innovation Summit (EVIS2023). (WAM)
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EV Charging Stations Increased 60% Across UAE in 3 Years

UAE Minister of Energy and Infrastructure Suhail al-Mazrouei speaks at the second edition of the Electric Vehicles Innovation Summit (EVIS2023). (WAM)
UAE Minister of Energy and Infrastructure Suhail al-Mazrouei speaks at the second edition of the Electric Vehicles Innovation Summit (EVIS2023). (WAM)

UAE Minister of Energy and Infrastructure Suhail al-Mazrouei revealed that the country's electric vehicle (EV) charging stations had risen nearly 60 percent over the past three years.

Mazrouei pointed to a noticeable increase in EV sales, which aligns with the ambitious plans, qualitative initiatives, and incentives provided by the government to encourage the conversion to electric vehicles.

Speaking on the sidelines of the Electric Vehicles Innovation Summit (EVIS2023), the minister said that the increase in the shift towards electric vehicles will contribute to reducing the carbon footprint, in line with the UAE's efforts to achieve climate neutral by 2050.

The government aims to increase the number of EVs on the roads by 2050, which would support the UAE's goals for climate neutrality, said the minister, noting that transportation is one of the sectors most concerned with reducing the carbon footprint.

He indicated that this requires everyone to take practical steps to reduce transportation emissions and help build appropriate infrastructure, frameworks, and policies to design a sustainable sector.

According to Statista, transportation accounts for 17 percent of global greenhouse gas emissions - behind only the power sector.

Public charging stations

Mazrouei announced that to fully realize the potential of electric mobility, the UAE is deploying a nationwide network of public and private charging stations equipped with the latest innovative technologies to reduce charging time.

"The stations follow a national guide that unifies their specifications across the emirates and aligns them with world-class standards," he added.

The minister stated that EVs "are set to be at the core of our shift to green mobility. The EV market looks promising and offers unique investment opportunities. We invite future-thinking businesses to capitalize on these opportunities."

EVIS2023 aims to promote the transition from dependence on fossil fuels to electric mobility, which saves the planet from the environmental consequences of CO2 and other emissions.

The summit's two-day conference will bring together delegates, experts, and representatives of the mobility industry from dozens of countries to discuss the current landscape and future challenges and opportunities.

It will feature more than 75 sessions, with keynote speakers, presentations, and panel discussions covering the EV industry's complete value chain.

It will be a valuable opportunity for attendants to network, share ideas and insights, and strike business deals.



Dell Raises Forecasts as Demand Surges for Nvidia Powered AI Servers 

The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)
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Dell Raises Forecasts as Demand Surges for Nvidia Powered AI Servers 

The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)
The logo of Dell Technologies at the Milipol Paris in Villepinte near Paris, France, November 15, 2023. (Reuters)

Dell Technologies raised its annual revenue and profit forecasts on Thursday, buoyed by demand for its AI-optimized servers that are powered by Nvidia's powerful chips, sending its shares up about 3% in extended trading.

Dell's infrastructure solutions group, which includes Nvidia-powered servers, surged 38% to a record revenue of $11.65 billion in the second quarter.

The company's servers are engineered to handle AI systems' intense computational demands, including training large language models.

"Enterprise remains a significant opportunity for us, as many are still in the early stages of AI adoption," Chief Operating Officer Jeff Clarke said in a post-earnings call.

Clarke said that Dell sees an emerging opportunity in "sovereign AI" by leveraging the company's strong relationships with governments globally.

Nvidia on Wednesday said nations building AI models in their own languages were turning to its chips, and that this would contribute about low double-digit billions to its revenue in the financial year ending in January 2025.

Nvidia CEO Jensen Huang called out the partnership with Dell earlier this year, saying they were helping businesses create their own "AI factories."

Dell's stock has risen 45% this year.

Dell said on Thursday it now expects annual revenue outlook to be between $95.5 billion and $98.5 billion, up from $93.5 billion and $97.5 billion previously. It also raised its annual adjusted profit per share forecast to $7.80, plus or minus 25 cents.

Demand for its AI-optimized servers rose about 23% sequentially to $3.2 billion in the second quarter. The backlog for these AI servers was $3.8 billion.

"Our pipeline has grown to several multiples of our backlog," Clarke said in a statement.

Revenue for the second quarter ended Aug. 2 rose about 9% to $25.03 billion, beating analysts' average estimate of $24.14 billion, according to LSEG data. It reported adjusted profit per share of $1.89 per share, compared with estimates of $1.71 per share.

While AI server demand soared, Dell's PC business struggled, losing market share to rivals. However, a strong refresh cycle for

AI PCs are expected next year after Microsoft ends support for Windows 10.

Revenue for the client solutions group - home to PCs - fell about 4% to $12.41 billion.

"Dell lost PC shipment shares in key markets in the second quarter. It is the top vendor in the US business market, but its competitors have shown growth and gained more shares than they did a year ago," said Mikako Kitagawa, director analyst at Gartner.

The company took a $328 million charge for workforce reductions in the second quarter.

Separately, Reuters exclusively reported earlier on Thursday that Dell is again exploring a possible sale of cybersecurity firm SecureWorks, following previous unsuccessful attempts to find a buyer.