Dubai: H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, held a meeting with Wang Chuanfu, Chairman, CEO, and Co-Founder of BYD, a leading company in the electric and hybrid vehicle industry. The meeting, conducted at Sheikh Maktoum's office, focused on exploring collaborative opportunities in the automotive sector, specifically targeting electric and hybrid vehicles and sustainable mobility solutions.
According to Emirates News Agency, the discussions emphasized the UAE's dedication to forming partnerships with major global entities that facilitate the advancement of future-ready industries. This is part of the nation's transition towards a low-carbon economy, aligning with the UAE's Net Zero by 2050 Strategy.
The meeting also highlighted the potential opportunities presented by the UAE's rapidly expanding market. The country's pro-business environment and forward-thinking policies have established the emirate as a favored hub for global automotive and mobility companies aiming for regional growth.
Additionally, the discussions touched on the benefits that global companies can draw from Dubai's burgeoning status as an international hub for innovation and investment. This is in line with the Dubai Economic Agenda D33, which aspires to position the city among the world's top three urban economies by 2033.
BYD, founded in 1994 and headquartered in Shenzhen, China, is a high-tech company committed to harnessing technological innovations to improve lives. The company is significantly involved in sectors such as electronics, automotive, renewable energy, and rail transit. In 2024, BYD's annual revenue surpassed RMB700 billion, and by April 2025, its new energy vehicles had expanded their presence to over 100 countries and regions globally.
The meeting was attended by several notable figures, including Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai; Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors, Roads and Transport Authority; Saeed Al Tayer, Managing Director and Chief Executive Officer, Dubai Electricity and Water Authority; Helal Almarri, Director General, Dubai Department of Economy and Tourism; Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD Group; and Omar Al Futtaim, Vice Chairman and CEO of Al Futtaim Group.