South Korean electric vehicle (EV) charging network operator, Chaevi Company Ltd, announced that it has entered into a new partnership with a major infrastructure development company in the United Arab Emirates (UAE) to help establish an EV charging network in the country and expand its operations across the Middle East.
Chaevi confirmed that it has signed an initial agreement worth US$ 5.5 million, to supply 1,000 EV chargers to Dubai-based Emirates Electrical Engineering LLC, a subsidiary of the Al Rostamani Group, over the next two years. Chaevi pointed out that the Al Rostamani Group is the only private company in the country that has a charging point operator (CPO) business license.
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As part of the agreement, Chaevi will supply its full range of EV chargers, from low-cost 11 kW chargers to rapid chargers with capacities of up to 100 kW. They will be installed in key buildings across Dubai, starting with buildings owned by the Al Rostamani Group.
Chaevi is a leading EV charger manufacturer in South Korea, with some 10,000 chargers installed in the country so far, and exports to the US, Europe, and Southeast Asia. The company is currently preparing to launch an initial public offering (IPO) and list its shares on the South Korean Kosdaq stock exchange.
