Al-Futtaim Electric Mobility Signs Partnership With Parkin To Accelerate Sustainable Urban Mobility

Dubai, UAE: Al-Futtaim Electric Mobility, the regional representative of BYD in the UAE and KSA, and Parkin PJSC, the largest provider of paid public parking facilities and services in Dubai, have partnered to electrify Parkin’s operational fleet, advancing the UAE’s green mobility agenda. This public-private collaboration marks a significant step towards sustainable transportation in the region.

The agreement will see 40 BYD Song Plus plug-in hybrid electric vehicles (PHEVs) integrated into Parkin’s fleet, enhancing efficiency, and promoting eco-friendly parking management. This partnership brings together two industry leaders: BYD, the world’s leading New Energy Vehicle (electric and plug-in hybrid) manufacturer, and Parkin, which manages over 200,000 paid parking spaces across Dubai.  The BYD Song Plus PHEVs are already in use, supporting Parkin's inspectors and personnel, enabling faster response times and improved service quality.

"At Al-Futtaim Automotive, we believe that to achieve true progress in sustainability, robust collaboration between diverse sectors is extremely essential,” shared Yousuf Ali AlRaeesi, Director of Government Affairs & HSSE , Al-Futtaim Automotive. “This partnership with Parkin demonstrates the impact of such collaborations in bolstering the green mobility movement and infrastructure of the nation. We remain committed to bringing global sustainable innovations and advanced mobility technologies to the UAE, and this is evident in the expanded BYD line-up of electric and plug-in hybrids that we have introduced. The line-up not only caters to the growing number of eco-conscious customers in the UAE, but also fleet operators, businesses and government entities that are keen to shift towards sustainable operations and make a tangible impact on the nation’s green strategies.”

Mohamed Abdulla Al Ali, CEO of Parkin, commented: "We are pleased to partner with BYD to advance sustainable mobility in Dubai and the wider UAE. This initiative supports Dubai's Green Mobility Strategy 2030 and lays the groundwork for a more sustainable and seamless parking experience. The integration of EV charging infrastructure is crucial to our long-term growth strategy and reflects our dedication to environmental responsibility.”

Beyond fleet deployment, the partnership will expand Dubai’s EV charging infrastructure. Over the next two years, the companies will collaborate to install EV chargers in communities, multi-story facilities, and shopping malls, further encouraging the adoption of electrified vehicles and supporting the UAE's Net Zero 2050 goals.

Parkin, which manages operations in high-density areas such as Deira, Business Bay, and Jumeirah, serving nearly 4 million unique customers in 2023, is uniquely positioned to drive this transformation. With exclusive rights to operate and expand new parking facilities for Dubai’s Roads and Transport Authority (RTA), Parkin is leading the evolution of parking and mobility services in the emirate.

This collaboration between Al-Futtaim Electric Mobility, BYD and Parkin sets a new standard for sustainable urban development, showcasing the UAE’s commitment to innovation and environmental stewardship.

Media Enquiries – Al-Futtaim Electric Mobility

Laureline Shwarz - Laure-Line.Schwarz@alfuttaim.com

Athwifa Saleem - athwifa@arduina-mena.com

IR and Media Enquiries - Parkin

For more information, please visit www.parkin.ae or contact:

Media - reem.abdalla@parkin.ae

Investors / Analysts - max.zaltsman@parkin.ae

About Al-Futtaim Electric Mobility

Al-Futtaim Electric Mobility is a subsidiary of Al-Futtaim Group, dedicated to promoting and advancing sustainable mobility solutions in the UAE and across the Middle East. The division is focused on the distribution and sale of electric and hybrid vehicles, charging infrastructure, and related services. With a strong commitment to environmental sustainability, Al-Futtaim Electric Mobility aims to accelerate the adoption of electric and hybrid vehicles in the region, reducing the carbon footprint and promoting a cleaner and greener future. The company is the exclusive distributor of Polestar and BYD electric vehicles in the UAE, offering a range of models that cater to different needs and budgets. In addition to offering electric vehicles, Al-Futtaim Electric Mobility provides a comprehensive range of services that includes charging solutions, after-sales support, and financing options.

About BYD

BYD is the leading global producer of new energy vehicles (NEVs), having sold an impressive 3 million NEVs worldwide in 2023 alone. As one of the most successful manufacturers of electric and plug-in hybrid vehicles worldwide, BYD is the only company to produce the full industrial supply chain of electric vehicles, including the batteries, electric motors, electronic controllers, and semiconductors. With successful operations in several advanced markets, including Europe, the USA, Japan, and Korea, and a dominant market share in China, BYD is now a firm favorite to lead the sustainable mobility transition of the GCC region.

About Parkin

With a unique blend of operational excellence, technological know-how and enforcement capability spanning almost three decades, Parkin Company PJSC is the largest provider of paid public parking facilities and services in the Emirate of Dubai, operating approximately 200k paid parking spaces. Parkin has a monopoly on Dubai’s on and off-street paid public parking market and a 91% market leading share of the total on and off-street paid parking market.

Under a 49-year Concession Agreement with Dubai’s Roads and Transport Authority (RTA), Parkin has the exclusive right to operate a portfolio of public on and off-street parking (180k spaces) as well as public multi-storey car parking facilities (3k spaces). Parkin also operates certain developer-owned parking facilities through partnership agreements across the Emirate (25k spaces). Additional revenue streams include enforcement, the issuance of seasonal permits, parking reservations and other commercial activities.

By deploying state of the art digital payment solutions and intelligent parking management systems that utilise artificial intelligence and big data analysis, Parkin’s customers successfully conducted 95m parking transactions during 9M 2024.

Dubai's parking operations were established in 1995 under the Dubai Municipality, before becoming part of the RTA in 2005. In December 2023, Parkin Company PJSC was established through the issuance of Law No. 30 of 2023, successfully completing its initial public offering (IPO) on the Dubai Financial Market in March 2024.