Al Ghurair Investment, one of the UAE's most diversified family business families, announced today a strategic agreement with Chinese automotive manufacturer Exceed Automobile Corporation (EXEED) to launch their premium line of sports utility vehicles (SUVs) across the UAE. The collaboration intends to accelerate Al Ghurair Investment's quest of long-term excellence via innovation and technology.
The signing ceremony took place on March 15th at EXEED's headquarters in Wuhu, China, in the presence of a delegation from Al Ghurair Investment consisting of Ibrahim Al Ghurair, Non-Executive Board Director, John Iossifidis, Group Chief Executive Officer, and Mohammed Maktari, General Manager, Al Ghurair Auto (AG Auto), and Mr. Qin, Vice President, EXEED International, Mr. Shen, General Manager, EXEED - Middle East and Egypt Region , Mr. Zhou, Director, EXEED - New Market Development, and Mr. Dai, Country Director, EXEED UAE.
The collaboration will mark the introduction of EXEED across the UAE, bringing a new luxury brand that combines centuries-old traditions of European automotive culture with the most advanced intelligent manufacturing technology that China is known for today. EXEED is a luxury Chinese brand that is claims to be the republic's first premium automobile brand to be 'created from scratch.' It offers a blend of 'fashion and technology' across a series of high-performance and fuel-efficient SUVs. Al Ghurair Investment will also launch crucial EXEED technologies, including a line of hybrid cars in 2024, followed by electric vehicles, as part of the agreement.
"We are happy to form this new cooperation with EXEED, a high-tech luxury automotive manufacturer, as we continue to push innovation across the UAE. We are happy to continue Al Ghurair's pioneering history by collaborating with a brand whose enthusiasm for innovation and exploration is similar to ours. As we speed our quest of better, we do so with a forward-thinking perspective and an intuitive grasp of our clients' changing demands. We are excited to collaborate with EXEED to provide cutting-edge cars and services that will help the UAE's mobility sector," said John Iossifidis, Group CEO, Al Ghurair Investment.
Following its presence throughout the GCC in Saudi Arabia, Qatar, and Kuwait, EXEED is anticipated to open its first showroom in the UAE in June 2023 with prime positioning on Etihad Road, with further opportunities being explored in Abu Dhabi and plans for an additional showroom in Dubai on the horizon. Al Ghurair Investment will serve as the exclusive distributor.
Vice President of EXEED International Mr. Qin stated, "As we continue to grow our footprint in the area as part of our "Greater Middle East" plan, we are honoured to work with Al Ghurair Investment across the UAE. This partnership will help Al Ghurair Investment in its quest to become a leader and innovator across the UAE's automotive sector and further the group's commitment to innovation and sustainability. The automotive industry is advancing at an unprecedented rate driven by changing consumer preferences and a global call for sustainability."