Abu Dhabi’s Mubadala to develop electric car charging stations with France’s ENGIE

Abu Dhabi’s Mubadala to develop electric car charging stations with France’s ENGIE

The Emirati sovereign wealth fund Mubadala Investment Company signed a memorandum of understanding today with the French energy company ENGIE related to electric vehicles. 

Per the agreement, Mubadala and ENGIE will work to develop a “digital platform” for charging electric vehicles in Abu Dhabi. The platform will relate to the installation and operation of charging infrastructure for the vehicles, the official Emirates News Agency reported. 

Why it matters: The United Arab Emirates is seeking to improve its environmental record by investing in green technology. Abu Dhabi recently rolled out a plan to place bicycles on buses to this end. The UAE is also working with Israel to develop clean hydroelectricity, and the Abu Dhabi-based Etihad Airways is experimenting with flight technologies that slightly reduce fuel consumption.