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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Five engineering students, including three women, drown in Cauvery confluence at Mekedatu
Ramanagara, Apr 29: Five students of an engineering college, including three women, drowned at the confluence of the Cauvery river at Mekedatu in Kanakapura Taluk of the district, police said on Monday.
The deceased were among 12 students who had come here from Bengaluru, Satanur police said.
When they were swimming, they were caught in a whirlpool and drowned.
The deceased have been identified as Harshita (20), Abhishek (20), Tejas (21), Varsha (20) and Neha (19).
The remaining seven students fled after their friends drowned.
