DUBAI, 14th August, 2023 (WAM) -- Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has played a key role in driving the growth of another international business success story. The chambers' representative offices in Latin America (LATAM) have helped propel ONE MOTO - a Dubai-based company that aims to sustainably solve 'last mile' logistics problems through its range of innovative Electric Vehicles (EVs) - into several markets across the region.
Dubai International Chamber successfully established a connection between ONE MOTO and Santiago Motors in Chile to broker a new nationwide sales deal for the ambitious UAE start-up, which will see the Chilean automotive company sell ONE MOTO's electric vehicles across its national sales network.
The chamber is now supporting the company's plans to expand into seven additional LATAM markets. ONE MOTO aims to set up assembly and manufacturing in Argentina, Brazil, and Mexico, and is on track to secure its first assembly partner by Q4 this year and open its regional headquarters in early 2024. The company will continue to supply the vehicles from its Dubai plant until a suitable local partner is found, creating tremendous in-county value for the UAE and positioning the emirate at the forefront of sustainable automotive production.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: "We are pleased to assist this sustainable, hi-tech company in accessing new markets through our services. Dubai International Chamber remains committed to identifying new opportunities in priority markets worldwide that hold strong potential for businesses in Dubai. Our work in Latin America underlines the importance of this dynamic region, and we look forward to continuing to leverage the exciting opportunities available for the mutual benefit of all stakeholders."
Serial entrepreneur Adam Ridgway launched ONE MOTO in DIFC, Dubai, to help decarbonise mobility in both the commercial and personal sectors. The company has gained a foothold in the United Kingdom, Bahrain, Jordan, Sri Lanka, Chile, Iraq, Nepal, Ethiopia and is now working to grow its sales further afield.
ONE MOTO founder Adam Ridgway said: "The greatest asset we've had in our arsenal of support has been Dubai Chambers. The time offered, together with unwavering encouragement and expert guidance has enabled us to expand into five continents and 12 territories within just two years of operation. Our new Chile deal will create tremendous in-country value for the UAE, leveraging the free trade agreement made between the two nations while placing the UAE on the global stage for automotive production and innovation."
In addition to manufacturing and supplying electric vehicles, ONE MOTO offers a host of ancillary services including 'Battery as a Service,' which supports battery swaps to allow riders to work undisturbed by downtime. The company also provides an innovative SaaS FinTech solution that utilises a data-rich, AI-backed cloud system to optimise fleet and rider management.
ONE MOTO recently secured US$ 40 million in financing in its UAE home market to help fund the decarbonisation of last-mile vehicles across the country, which will enable the company to deploy 10,000 vehicles in the UAE by next year. Its current customer roster includes Talabat, InstaShop, Carrefour, and Majid Al Futtaim.
To date, the company has established a presence in 21 territories, 10 countries, and five continents, with a further 26 countries in the pipeline. In 2022, ONE MOTO set up the region's first Smart Mobility and Innovation Centre in Dubai in cooperation with the Rochester Institute of Technology. This world-class R&D academy has led to the design and development of three new hyper-modular EVs, which are set to be built in the UAE by Q4 this year.
Dubai International Chambers currently operates four international representative offices in Latin America. This network is continuing to grow following the launch of the 'Dubai Global' initiative by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to establish 50 representative offices for Dubai in five continents by 2030.
Supported by strategic public and private sector partners, Dubai Global is on track to achieve the emirate's target of boosting non-oil international trade from AED 1.4 trillion to AED 2 trillion by 2026. In addition to helping Dubai companies expand globally, the initiative seeks to attract foreign companies, SMEs, investors, and international talent to Dubai by showcasing the emirate's competitive advantages, sharing investment intelligence, and strengthening engagement with overseas stakeholders.