Dubai’s Al-Futtaim Family Office Invests in BYD
Dubai-based Al-Futtaim Family Office has become a key investor in BYD, China’s leading electric vehicle (EV) maker. This investment is part of BYD’s recent $5.6 billion share sale, one of the biggest in the global auto industry in the last decade.
BYD Raises $5.6 Billion Through Share Sale
To support its expansion, BYD sold nearly 130 million shares at HK$335.20 each. The offering attracted strong interest from major investors, including sovereign wealth funds and long-term investment firms. The sale price was slightly lower than the previous market value, but it still brought in significant capital.
Al-Futtaim and BYD Strengthen Their Partnership
Al-Futtaim and BYD have an existing partnership focused on the Middle East. Their collaboration includes distributing BYD electric cars in the UAE and Saudi Arabia. This new investment will help expand BYD’s reach in the region while giving Al-Futtaim a bigger role in the EV sector.
BYD Expands Electric Vehicle Offerings in UAE
Recently, BYD introduced four new electric commercial vehicles in the UAE, including:
- ETM6 All-Electric Truck – A small logistics truck with a 3.6-ton load capacity.
- Light Truck T5 – Designed for urban logistics with a 4-ton load capacity.
- Medium-Duty Truck ETH8 – A heavy-duty vehicle with a 10-ton load capacity.
- B12 Electric Bus – A 12-meter-long city bus that can travel up to 550 kilometers.
These new models provide businesses and public transport operators in the UAE with eco-friendly mobility solutions.
BYD’s Global Expansion Plans
BYD is using the funds raised to expand its production and technology worldwide. It plans to set up new manufacturing plants in Hungary, Turkey, and Brazil. In 2024, the company sold over 430,000 EVs internationally, making up more than 10% of its total sales.
Middle Eastern Investors Bet on China’s EV Industry
Al-Futtaim’s investment is part of a larger trend of Middle Eastern businesses supporting China’s growing EV market. This partnership strengthens the connection between China and the UAE, helping both regions advance in sustainable transportation.
Also Read:
UAE Ramadan 2025 Prayer Timetable
ADNOC and OMV Partner for $60 Billion Chemicals Joint Venture