- BYD launched 4 electric commercial vehicles in the UAE for use in the delivery and public transportation sectors.
- Al-Futtaim, BYD's partner in the UAE, is now a strategic investor in it.
BYD (HKG: 1211, OTCMKTS: BYDDY) has launched four electric commercial vehicles in the United Arab Emirates (UAE) with local partner Al-Futtaim -- now one of its strategic investors.
The companies launched the four electric commercial vehicles in the UAE at an event in Dubai on February 26, and they are:
ETM6 all-electric truck. With a load capacity of 3.6 tons, the model is an urban logistics vehicle with a 126-kWh blade battery pack.
Light Truck T5. It has a load capacity of 4 tons and is equipped with a 132-kWh blade battery pack for urban logistics.
Medium-duty truck ETH8. The model has a capacity of 10 tons and is equipped with a 255-kWh blade battery pack for heavy-duty commercial tasks.
B12 electric bus. The model is a 12-meter-long city bus with a blade battery capacity of 425 kWh and a range of up to 550 kilometers.
The launch of these models marks BYD's significant presence in the UAE's commercial vehicle market, providing local businesses and public transportation operators with new green mobility options, the company said.
Earlier today, BYD announced that it will raise HK$43.5 billion ($5.6 billion) in Hong Kong through the issuance of 129,800,000 new H shares.
The UAE-based Al-Futtaim family office participated in the deal as a strategic investor, BYD said, adding that in the future, it and Al-Futtaim plan to establish a strategic partnership to deepen collaboration in areas such as NEVs.
Al-Futtaim Group and BYD will use regional cooperation as a base to explore further growth opportunities and synergies, according to the NEV maker.
Founded in the 1930s and headquartered in the UAE, Al-Futtaim Group works with more than 200 international brands in more than 20 countries across the Middle East and Southeast Asia.
BYD has previously been working with Al-Futtaim.
On June 21, 2023, BYD, together with Al-Futtaim Electric Mobility Company, launched the Atto 3 -- known as the Yuan Plus in China, in the UAE. This marked BYD's entry into the UAE passenger car market.
BYD sold 4,613 commercial NEVs in February, up 719.36 percent from the same month last year and up 12.73 percent from January, according to figures it announced on March 1.
In the January-February period, BYD sold 8,705 commercial NEVs, up 739.44 percent from the same period last year.
Chinese NEVs 3-5 years ahead of rest of world, says BYD chairman
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