ADNOC Distribution has agreed with Abu Dhabi National Energy Company (TAQA) to work together to establish a mobility joint venture, E2GO, to build and operate electric vehicle (EV) infrastructure in Abu Dhabi and the wider UAE. An agreement to pave the way for creating the joint venture was signed by Eng. Bader Saeed Al Lamki, CEO of ADNOC Distribution and Jasim Husain Thabet, Group CEO and MD of TAQA and was unveiled during the Abu Dhabi Sustainability Week (ADSW 2023).

Demand for EVs in the UAE market has witnessed a steady rise over the past years and is projected to see a compound annual growth rate (CAGR) of 30% between 2022 and 2028 according to the global electric mobility readiness index published in 2022. E2GO comes at an opportune time in the development of the UAE's EV market, with an expected 70,000 charging points considered to be required in Abu Dhabi by 2030 to meet growing EV demand. To support this demand, an investment of up to USD 200 million of CAPEX will be needed for this critical infrastructure.

Backed by two Abu Dhabi national energy champions, E2GO aims to become the principal provider of EV charging points and associated infrastructure across the Emirate of Abu Dhabi. The partnership will include a network of fast chargers at key locations, featuring associated solutions such as parking and tolling services, in addition to related digital platforms to facilitate EV charging, which will enhance customer service and unlock new revenue streams. The project aligns with the UAE's Net Zero by 2050 objectives by contributing to a reduction in emissions from transport. The new venture is supported by a new regulatory Policy for Electric Vehicle Charging Infrastructure in Abu Dhabi that the Abu Dhabi Department of Energy recently launched, in a significant step forward to provide the right policy framework to support a circular carbon economy as the UAE advances its plans to achieve the net zero ambition.