NBF has worked with One Road Automotive (Exclusive UAE Distributors - HongQI Motors, luxury Chinese automobile brand) to boost the growth of its new energy vehicle fleet in the UAE. The collaboration is in accordance with NBF's continuous commitment to the expansion of the green economy, and it will make the bank the first to finance HongQI Motors' imports of electric vehicles from China to the UAE.
HongQI Motors, which has been in operation since 1958, has established its flagship Dubai showroom through its authorised distributor, One Road Automotive. It took use of the occasion to unveil its electric smart vehicles in the Middle East, which cater to a variety of client requirements.
In compliance with the Dubai Declaration and the UAE Energy Strategy 2050, NBF is dedicated to assisting customers with projects that extend and accelerate sustainable practises. HongQI Motors will use the bank's green finance framework to introduce additional electric vehicles to the UAE as part of its new collaboration. HongQI Motors is always looking for new methods to provide its consumers with great product designs and performance by utilising sophisticated smart technology.
"Our commitment to supporting green projects that contribute to a sustainable and low-carbon future in line with the objective of the UAE government is one of the main foundations of how we conduct business," said Vince Cook, CEO of NBF. “Since electrification is a key strategy to achieve decarbonization in the transportation sector, we are happy to be providing HongQI Motors with extra working capital so that they may import more electric vehicles into the United Arab Emirates. We are certain that our sustainable finance products and services can play a critical role in the implementation of sustainable projects across the UAE, and our recent collaboration with HongQI Motors is an excellent example of this.”
"Since HongQi is a pioneer in the automotive sector, we value our partnership with NBF and are proud to highlight our electric vehicle in order to promote the UAE's campaign for clean and green energy. One Road Automotive is the exclusive dealer for HONGQI vehicles in the UAE, and we appreciate NBF's assistance. We look forward to a more lively collaboration with NBF, as we support each other's environmental activism," said Mr. Qiyi Xie (Elvin), General Manager, One Road Automotive (Exclusive UAE Distributors of HONGQI MOTORS).
The benefits of the relationship will extend beyond HongQI Motors' consumers, underscoring NBF's dedication to the development of green goods and services. Those who buy an electric vehicle from a premium automobile brand in the UAE will be eligible for car finance loans with preferential interest rates beginning at 3.25%. (Flat rate).