Al Ghurair Motors Is TAM-Europe’s Commercial EV Dealer In UAE
Dealership Pact Signed At EVIS 2024
Al Ghurair Motors, a Dubai, UAE-based automotive dealer, has been appointed as the sole distributor in the UAE of TAM-Europe, a Maribor, Slovenia-headquartered commercial vehicle manufacturer of EVs (electric vehicles).
This follows a Memorandum of Understanding (MoU) signed by the two entities at the Electric Vehicle Innovation Summit (EVIS), held in Abu Dhabi City (May 20-22, 2024). John Iossifidis, Group CEO of the Al Ghurair group of companies, and Yusef Ma, CEO of TAM-Europe, signed the MoU.
Al Ghurair Motors is the recently established automotive division of Dubai-headquartered Al Ghurair group, while 77-year-old TAM-Europe was integrated into the TAM portfolio in 2012.
As previously reported by ‘Middle East News 247’ – Al Ghurair Motors (earlier trading as AG Auto) – which acquired the UAE dealership of China’s Exeed auto brand in 2023, is on a mission to acquire additional passenger car and commercial vehicle brands as the UAE automotive market continues to expand exponentially, and with an eye on sustainable forms of road transport.
As part of endeavours to foster sustainable mobility solutions, it also makes business sense for Al Ghurair Motors and other such automotive dealers in the UAE to acquire NEV (new energy vehicle) brands from across the globe to align their business model with the UAE’s federally backed Net Zero 2050 Strategy, which lays out a comprehensive roadmap for the Arabian Gulf nation’s quest to attain net-zero emissions by 2050.
Promising Sector
The UAE’s EV market, estimated to be worth $2.49 billion in 2024, is a promising sector projected to reach $9.07 billion by 2030. This robust growth, with a CAGR of 26.48% during the forecast period (2024-2030), underscores the immense potential for EVs in the oil-rich UAE.
The UAE was the first country in the Middle East to sign and ratify the Paris Agreement and the first country in the region to announce a net-zero by 2050 programme.
Designed as a catalyst for economic and societal advancement, the strategy aims to spearhead the transition to net-zero emissions while fostering job creation, economic growth, and export opportunities.
‘Value For Customers’
In remarks regarding Al Ghurair Motors’ newly signed collaboration with TAM-Europe, John Iossifidis said: “In the automotive sector, we seek innovative solutions and technologies that disrupt the status quo and create lasting value for our customers.
“This partnership exemplifies our commitment to supporting the UAE’s long-term vision for safe, smart, and sustainable urban mobility solutions. We look forward to collaborating closely with TAM-Europe to turn this vision into reality.”
Yusef Ma stated: “TAM-Europe is a leader in sustainable transportation solutions. Our eco-friendly vehicles are specifically designed to endure the UAE’s demanding climate, ensuring optimal performance without compromise.
“This partnership allows us to contribute directly to the UAE’s sustainability goals. We are excited to join forces with Al Ghurair Motors and join the nation’s [UAE’s} journey towards a cleaner, greener future.”
With a mandate encompassing innovation, product efficiency and environmental sustainability, TAM-Europe manufactures buses and coaches for diverse market segments, including airport transportation, public transit, Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs).
According to TAM-Europe, its VivAir airport buses command a 40% market share globally.
As a silver sponsor of EVIS 2024, TAM-Europe exhibited its charging station assets as well as the latest range of commercial EVs, including the Vefa T30, Vefa T40, and Vefa T600, aimed at customers in the Middle East.
Featured image: (L-R) Yusef Ma and John Iossifidis at EVIS 2024, after signing the UAE dealership MoU. Credit: Al Ghurair Motors
