His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE, met with Wang Chuanfu, Chairman, CEO, and Co-Founder of Chinese automotive giant BYD on January 16, 2026. The high-level meeting, held in Dubai, focused on potential collaborations to advance the adoption of electric and hybrid vehicles and bolster sustainable mobility solutions within the emirate, underscoring Dubai’s strategic commitment to environmental sustainability and economic diversification.
The discussions explored avenues for deep cooperation within the automotive sector, prioritizing the deployment of cutting-edge electric vehicle (EV) technologies. This initiative directly aligns with the UAE’s ambitious Net Zero by 2050 Strategy, which mandates significant public and private sector transition toward a low-carbon economy. By forging partnerships with globally recognized industry leaders like BYD, Dubai aims to solidify its position as a global center for future-ready industries.
Dubai’s Strategic Appeal for Global Mobility Giants
BYD, established in 1994 and headquartered in Shenzhen, China, operates across multiple high-tech domains, including electronics, renewable energy, and rail transit, but is most recognized today as one of the world’s leading manufacturers of new energy vehicles (NEVs). As of April 2025, BYD’s new energy vehicles have successfully entered over 100 countries and regions globally, demonstrating its extensive international footprint. The company reported annual revenue exceeding RMB 700 billion (approximately $94 billion USD) in 2024.
During the meeting, Sheikh Maktoum highlighted the unique advantages Dubai offers to global automotive and mobility companies seeking regional expansion. The emirate’s rapidly expanding market, supported by robust pro-business policies and a forward-looking regulatory framework, positions it as an ideal hub for international investment and innovation.
These efforts are integral to the Dubai Economic Agenda D33, an ambitious plan designed to position the city among the world’s top three urban economies by 2033. Leveraging Dubai’s growing status as an international nexus for innovation provides foreign companies with strategic access to regional markets and talent.
High-Level Institutional Support
The meeting benefited from the participation of several key UAE and Dubai government officials, signaling the nation’s unified commitment to this partnership. Attendees included His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; and His Excellency Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai.
Also present were directors of critical infrastructure authorities, including His Excellency Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors, Roads and Transport Authority (RTA), and His Excellency Saeed Al Tayer, Managing Director and CEO, Dubai Electricity and Water Authority (DEWA). The attendance of figures like His Excellency Helal Almarri, Director General, Dubai Department of Economy and Tourism, and executives from major private sector groups like Emirates NBD Group and Al Futtaim Group, emphasized the public-private alignment driving Dubai’s mobility goals.
The commitment between Dubai and BYD signifies a crucial step in the emirate’s journey toward decarbonization. As global cities compete to build efficient, sustainable urban ecosystems, such collaborations are vital for accelerating the transition away from conventional fuels and establishing smart, future-proof transportation networks. Further announcements detailing specific joint ventures and deployment schedules are anticipated as both parties explore concrete implementation strategies.