Sunday 21 July 2024

Mohammad Ali Rashed Lootah

Dubai International Chamber helps One Moto’s expansion

DUBAI, August 14, 2023

Dubai International Chamber’s offices in Latin America have helped One Moto – a Dubai-based firm that aims to sustainably solve ‘last mile’ logistics problems through its 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.
Strong potential
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “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 UK, 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.”
Ancillary services
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 $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.-- TradeArabia News Service


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