24-year-old Zach Faizal unveils UAE’s first home-grown petrol-to-electric repurposed vehicle
Zach promises to deliver repurposed car at almost half cost of new EV
Abu Dhabi: In a major breakthrough on the sidelines of COP28, Dubai-based start-up Peec Mobility is set to debut the UAE's first home-grown petrol-to-electric repurposed vehicle. Founded by 24-year-old entrepreneur Zach Faizal in 2022, Peec Mobility's innovative technology promises to play a pivotal role in reducing carbon emissions on UAE roads and aligning with the nation's Net-Zero goals.
The technology developed by Peec Mobility is a cost-effective alternative to mass scrapping of existing internal combustion engine (ICE) vehicle fleets. By repurposing retired petrol vehicles while retaining their body and chassis, the start-up aims to transform them into electric vehicles with a 30% lower cost and an 80% reduction in manufacturing time compared to producing new electric vehicles.
Zach Faizal, the visionary behind Peec Mobility, envisions this technology as a game-changer for the Middle East region. He emphasizes that re-engineering offers a quicker, smoother, and greener transition to electric mobility than purchasing new electric vehicles. Faizal's promise is to deliver repurposed cars at nearly half the cost of new electric vehicles, making them more accessible to a wider audience.
“Today, re-engineering is quicker, smoother and greener than buying new EVs, and proves cost-efficient,” said Zach Faizal, who promises to deliver a repurposed car at almost half the cost of a new EV. “For instance, an average electric car on the market is priced at around $52,000. Peec’s vehicles are aimed to be priced at 30 per cent to 50 per cent lower with the volumes we’re looking at. Thus solving the affordability challenge in the sector,” Zach Faizal was quoted as saying by Khaleej Times.
Peec Mobility's focus extends beyond individual cars, with an ambitious plan to repurpose entire fleets of ICE buses, cars, and trucks on UAE roads. Zach Faizal believes in the efficacy of reusing existing vehicles, emphasizing that "waste is minimized, and a new life cycle begins."
The start-up's first line-up of reinvented mid-sized sedans and buses, featuring a smart paint job, Flyknit-style upholstery, and retrofitted home-designed electric engines, will be unveiled at the ongoing UN Climate Change Conference.
Zach Faizal aims to collaborate with the government to implement this conversion at scale and create a replicable model from the UAE to the world. Zach Faizal aspires to support the UAE Net Zero goal by reducing 23% of emissions from the transportation sector by 2030. He proposes implementing a policy to repurpose just 5.0% of existing vehicles on the road every year for the next seven years.
Peec Mobility's plan is not limited to the UAE; Zach Faizal envisions taking the conversion model to other countries, redefining the used-car market globally. Recognizing that setting up local ReFactories is a key strategy to reduce capital expenditure in the short term, Zach Faizal believes it is crucial to invest less in the capex of vehicles until 2030. The goal is to prioritize building a robust charging infrastructure globally, paving the way for heavy manufacturing plants and gigafactories in the future.
“Conversion is the most pragmatic route to Net-Zero. One we can succeed with our business strategy here, we will take it to other countries to redefine the used-car market,” said Zach Faizal.
As of now, Peec Mobility is on track to unveil at least 500 repurposed EVs operating on Dubai roads by 2024.
“The number one limiting factor to electric vehicle adoption is the lack of charging infrastructure, not the vehicles themselves. Our strategy and goal is to work with governments and bring awareness of the idea, until 2030, of investing less in the capex of the vehicles (repurpose them) and invest the bigger amount in charging infrastructure. And once by 2030, we have a robust charging infra globally, we can move into heavy manufacturing plants and gigafactories.” He further added.
Zach Faizal is the son of Faizal Kottikollon and Shabana Faizal, a well-known Indian entrepreneur couple based in the UAE. The couple is not only known for their business endeavors but also for their philanthropic contributions.
Shabana hails from Mangaluru in the Karnataka state of India. She is the only daughter of prominent businessman and socio-religious leader Late B Ahmed Haji Mohiudeen who founded the prestigious BA Group of Businesses in Thumbay near Mangaluru.
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Will follow Shinde in any direction he goes: MLA Shirsat on allying with Sharad Pawar for CM post
Mumbai, Nov 21: Shiv Sena MLA Sanjay Shirsat on Thursday said his party leaders will follow Maharashtra Chief Minister Eknath Shinde in any direction he goes post-assembly poll results and decisions taken by him will be acceptable to them.
He asserted the party will solidly back Shinde, who heads the Shiv Sena, as it trusts his leadership, comments coming two days ahead of the state assembly poll results.
Asked what if Shinde goes with rival NCP (SP) president Sharad Pawar to become the chief minister for a second time, Shirsat said, "We are committed to (follow) whatever Eknath Shinde decides. We will be solidly with him. We trust him and it will always be there."
The MLA from Chhatrapati Sambhajinagar (West) was responding to the question asked on a TV channel.
Shirsat said Shinde, who took over as CM in June 2022 after revolting against the then leadership of the Shiv Sena, only goes in the "right direction" and this has been the experience of party leaders.
Shirsat was one of the Shiv Sena MLAs who sided with Shinde at the time of the revolt.
Asked about the comments of his ally, BJP leader Pravin Darekar said, "Shirsat's remarks do not reflect the official stance of the party. Eknath Shinde's party contested against Uddhav Thackeray-led Shiv Sena (UBT) and Sharad Pawar's NCP (SP). Such an alliance with the MVA was inconceivable."
The BJP, Shinde-led Shiv Sena and NCP headed by deputy CM Ajit Pawar are members of the ruling Mahayuti alliance. On the other hand, the opposition Maha Vikas Aghadi (MVA) consists of the Congress, Shiv Sena (UBT) and NCP (Sharadchandra Pawar).
Asked what if Shinde is not made the CM again if Mahayuti retains power, Shirsat said, "A decision on this will be taken only by Eknath Shinde. It's his right and we cannot even comment on it. Whatever decision Shinde takes will be acceptable to us."
Voting for the 288-member state assembly concluded on November 20 and results will be declared on November 23.
