EVIQ, a prominent player in Saudi Arabia’s electric vehicle infrastructure sector, has officially opened its first highway electric vehicle (EV) charging station at SASCO Aljazeera, located along the crucial Riyadh-Qassim highway. This launch represents a significant advancement in the regional effort to promote sustainable transportation in the Kingdom. The newly inaugurated charging station aims to...
The United Arab Emirates (UAE) has ambitious plans to have half of the cars on its roads be electric by 2050. However, estimates from researchers at PwC suggest that by 2030, only 15% of vehicles in the country are expected to be electric. Heiko Seitz, the Global and Middle East eMobility leader at PwC Middle...
Abu Dhabi’s ADQ, a sovereign investment company formerly known as Abu Dhabi Developmental Holding Company, has announced a significant partnership with Energy Capital Partners (ECP) based in New Jersey. The collaboration aims to invest over $25 billion in developing power generation and energy infrastructure, targeting projects totaling 25 gigawatts (GW). This 50-50 partnership combines ADQ’s...
Nvidia and Elon Musk’s xAI have recently joined a consortium supported by Microsoft, the UAE investment fund MGX, and BlackRock to enhance artificial intelligence (AI) infrastructure in the United States. This announcement was made on Wednesday amidst an escalating global competition to lead in the emerging AI technology space. The consortium, which was formed last...
Abu Dhabi’s MGX has made a landmark investment of $2 billion in Binance, marking the first institutional investment in the world’s largest cryptocurrency exchange. This significant move into the cryptocurrency sector comes as MGX seeks to diversify its portfolio, particularly into blockchain and related technologies. According to Bloomberg, the investment represents MGX’s inaugural entry into...