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.



Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
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Decision on Digital Pound over Two Years Away, Bank of England Says

A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo
A view of the Bank of England and the financial district, in London, Britain, September 23, 2024. REUTERS/Mina Kim/File Photo

No decision will be made for at least a couple of years on whether Britain will go ahead with a central bank digital currency for the general public, the Bank of England said on Tuesday, pushing back the timeline for the project.

Former Prime Minister Rishi Sunak championed the idea of a digital currency in 2021 when he was finance minister, but the BoE and the current government have been more reluctant and a public consultation attracted widespread privacy concerns.

Governor Andrew Bailey said in October that a central bank digital currency was "not my preferred option" but might be needed if British banks did not ensure their payment systems were more attractive than those offered by less regulated tech companies, Reuters reported.

The BoE said on Tuesday it was starting work with Britain's finance ministry on a potential design for a digital currency, in line with plans in a previous consultation.

"After completing the design phase over the next couple of years, including taking account of developments in the wider payments landscape, the Bank and government will assess the policy case for a digital pound and determine whether or not to proceed," the BoE said.

In January 2024, the BoE said a decision on whether to go ahead with a digital currency would not be made before 2025 at the earliest.

Britain's government has said a digital pound would be private but not anonymous, unlike physical cash.

As with existing bank accounts and credit card payments, authorities would be able to track transactions they suspect involve money laundering or finance terrorism.

"This legislation would safeguard users' privacy, guaranteeing that neither the Bank nor the government could access users' personal information nor control how households and businesses use their money," the BoE said.