Emirates Transport, located in Dubai, has inked a deal with China's NEV Investment to form a joint venture business responsible for the development, building, marketing, operation, and administration of the UAE's New Energy Vehicle Project.

The public joint stock business Emirates Transport was founded in 1981 and is currently run by the Emirates Investment Authority.

Despite being well-known in the school transportation industry, Emirates Transport has grown significantly in terms of investments and service diversification throughout the course of its 40-year existence.

The organisation can now provide a wide range of services to its clients, both businesses and people, including transportation, car leasing, and auto maintenance.

The New Energy Vehicles Project in the United Arab Emirates, which includes four major components—trading, infrastructure, research and development, and manufacturing—has been accelerated, and the result is the new joint venture.

The initiative was launched to pave the way for the production of electric vehicles in the UAE. The project is in line with the Make it in the Emirates initiative and Operation 300 billion, the UAE's industrial strategy aimed at increasing the manufacturing industry's contribution to the country's economic output while also creating job opportunities and providing a significant boost to local SMEs.

Through the introduction of Chinese New Energy Vehicles, including trading, R&D, infrastructure, and manufacturing, NEV Investment, a New Energy Vehicle investment company among strategic international investors and stakeholders in the UAE, seeks to create a comprehensive New Energy Vehicle ecosystem in the UAE and MENA region.

Acting CEO of Emirates Transport Faryal Tawakul stated that the business was pleased to be a part of this significant advancement in the transportation and automotive sectors in the UAE.

"Emirates Transport has been a pioneer in the transport sector in the UAE for more than four decades, and as an industry leader it's natural that we are now at the forefront of this new dawn of electric cars," added Tawakul.

"We are happy to embark on this journey alongside our partners in the public and commercial sectors, and we look forward to playing a crucial part in ensuring the UAE is once again a leading light, both locally and internationally, when it comes to emerging technology," she continued.