Maktoum bin Mohammed meets with Chairman of BYD

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, today met with Wang Chuanfu, Chairman, CEO and Co-Founder of BYD, one of the world’s leading manufacturers of electric and hybrid vehicles.

The meeting, which took place at His Highness’s office, explored opportunities to advance cooperation in the automotive sector, with a particular focus on electric and hybrid vehicles and sustainable mobility solutions. Discussions underscored the UAE’s commitment to building partnerships with leading global companies that advance future-ready industries and support the transition towards a low-carbon economy, in line with the country’s Net Zero by 2050 Strategy.

The meeting highlighted the opportunities arising from the UAE’s rapidly expanding market, underpinned by a pro-business environment and forward-looking policies that have positioned the emirate as a preferred hub for global automotive and mobility companies seeking regional growth. The discussions also touched on the advantages global companies can leverage from Dubai’s growing status as an international hub for innovation and investment, in line with the Dubai Economic Agenda D33, which aims to place the city among the world’s top three urban economies by 2033.

Founded in 1994, BYD, headquartered in Shenzhen, China, is a high-tech company devoted to leveraging technological innovations for a better life. BYD has played a significant role in industries related to electronics, auto, renewable energy and rail transit. In 2024, its annual revenue exceeded RMB 700 billion. As of April 2025, BYD's new energy vehicles have established a presence in more than 100 countries and regions worldwide.

The meeting was attended by 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; His Excellency Abdulla Mohammed Al Basti, Secretary General of The Executive Council of Dubai; His Excellency Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors, Roads and Transport Authority; His Excellency Saeed Al Tayer, Managing Director and Chief Executive Officer, Dubai Electricity and Water Authority; His Excellency Helal Almarri, Director General, Dubai Department of Economy and Tourism; His Excellency Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD Group; and Omar Al Futtaim, Vice Chairman and CEO of Al Futtaim Group.