Abu Dhabi Department of Economic Development (ADDED) has partnered with Valeo, a global leader in the automotive industry, to set up a technology hub for the manufacture of 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, said a statement from ADDED.
Through this deal, Valeo plans to explore new areas of development by integrating its advanced technologies and its sustainability vision in green cities, it stated.
ADDED said 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.
The agreement was signed by Arafat Al Yafei, the Executive Director of the Industrial Development Bureau, the industrial unit of ADDED, and Tamer Aly, the Group Technical Centre Vice President and Valeo Egypt General Manager, in the presence of Rashed Abdulkarim Al Blooshi, the Under-Secretary of ADDED.
Al Yafei pointed out that this co-operation to develop smart mobility hub for electric, autonomous car components in Abu Dhabi was in line with its initiatives to ensure that growth, sustainability, and advanced technologies go hand in hand in all aspects of our socio-economic development.
On the strategic deal, 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."
A French global automotive supplier headquartered in France, Valeo supplies a wide range of products to automakers and the aftermarket.
The group boasts a 113,600-strong workforce in 33 countries worldwide which is responsoble for running 186 production plants, 59 R&D centers and 15 distribution platforms.-TradeArabia News Service