STUTTGART, Germany: Automakers around the world are pushing hard for new networks that can charge electric cars fast. In Europe, some power companies and grid operators are testing whether it might be smarter and cheaper to move into the slow lane.
A 15-month study of electric car charging behavior in Germany has concluded that consumers can be persuaded to accept slow, overnight recharging that could help avoid brownouts from surges in electricity demand or costly upgrades to power grids.
The prospect of millions of EVs hitting the roads as governments gradually ban new diesel and gasoline cars is seen as a major challenge for power companies, especially in Germany which is switching from nuclear and coal to less predictable sources of energy such as wind and solar.
The small study in the wealthy Stuttgart suburb of Ostfildern-Ruit though has helped alleviate the concerns of some grid operators that too many electric vehicles (EVs) charging at peak times could cause network crashes.
The engineers at Netze BW, the local grid operator behind the trial, found that all the households involved came around to leaving their electric cars plugged in overnight and only half ever charged simultaneously.
“Since the experience with the project we have become a lot more relaxed. We can imagine that, in future, half of the inhabitants of such a street own electric vehicles,” said Netze BW engineer Selma Lossau, project manager for the study.
Still, with limited EV battery ranges for now, slow, overnight charging doesn’t get around the problem of how to persuade drivers to ditch petrol cars altogether.
Without a network of fast-charging stations offering quick refueling, drivers may be wary of using EVs for long trips — which is why some automakers want lots of fast-charging stations to encourage the widespread adoption of electric cars.
Slower, or delayed, charging has already gained traction in Norway, Europe’s leading EV market, where nearly 50% of new car sales are zero-emission vehicles.
A study by energy regulator NVE showed that Norway faces a bill of 11 billion crowns ($1.2 billion) over the next 20 years for low- and high-voltage grids, substations and high-voltage transformers — unless it can persuade car owners to charge outside peak afternoon hours.
The investment cost to the country of 5.3 million people could drop to just over 4 billion crowns if cars are charged in the evening, and may fall close to zero if batteries are only plugged in at night, NVE said.
NVE is now working a tariff proposal which will penalize peak-hours charging. Tibber, a Norwegian power company, already offers cheaper electricity for EV charging if you let it decide when your car is charged while firms such as ZAPTEC offer ways to adjust charging to the available grid capacity.
Some of the 10 households participating in the Stuttgart trial said they initially wanted to keep topping up their cars for fear of running out of juice, but soon adapted to leaving the power company to handle it as it saw fit overnight.
“At the start, I did not want to take any risks and charged frequently in order to feel secure. Over time, I changed my outlook,” said Norbert Simianer, a retired head teacher who drove a Renault Zoe during the trial. “I grew used to the car and became more at ease in handling the loading process.”
Simianer and his neighbors were given electric cars and 22 kilowatt (kW) wall-boxes for their garages, alongside two charging points in the street, all free of charge.
In return, they gave up their normal cars and allowed Netze BW, which is a subsidiary of German utility EnBW, to monitor and carry out a deferred and down-scaled charging process during a seven-and-a-half-hour period overnight.
Netze BW tried various options, either slotting cars in at the maximum 22 kW charging flow one after another, or lengthening the charging time for individual cars by adjusting the power flow, or combining both methods, Lossau said.
The participants, who used apps to check the status of their car batteries, grew accustomed to the lack of instant charging capability because their vehicles could always handle their everyday commutes of up to 50 km (31 miles).
EnBW said nine of the 10 households in the trial on Ostfildern-Ruit’s Belchenstrasse had opted to keep the wall-boxes and most were exploring leasing electric car.
Lossau said monitoring 10 households did not in itself provide the “empirical mass to draw conclusions for the load profile of all of Germany.”
She also said there would need to be better two-way communication between EVs, the grid and consumers for the system to function efficiently on a large scale.
“There will have to be more exchange of information between e-cars and the grid to update the loading status in real-time, because otherwise, there can be the wrong impression about the speed of loading,” she said.
Utility companies developing so-called vehicle-to-grid (V2G) services, however, are struggling to persuade some automakers to use technology that allows two-way flows of information, and power, between batteries and grids.
Carmakers such as Volkswagen, Daimler and Ford, for example, are prioritising one-directional fast-charging instead to overcome consumer resistance to EVs.
Japan’s Nissan has been leading the way among carmakers exploring V2G though Germany’s BMW has now decided to develop it too, saying cooperation between cars and grids will be key to making e-mobility ready for mass markets.
“It is about making sure there is enough supply for the electric cars and that the lights do not go out elsewhere,” a BMW spokesman said. “The cars don’t just load when it’s best for the market, but they can also supply power back to the grid to help even out demand spikes.”
“There has to be more progress on the data exchanges, however. It is not yet the standard,” he said.
Nevertheless, the Ostfildern-Ruit trial has raised hopes that power grids might be able to cope with an influx of electric cars, especially if the consumers play ball.
Even if drivers resist overnight charging, suppliers of software and equipment to power grids, such as Germany’s Siemens , are also looking at safer and more efficient ways to manage how and when power is used to charge cars.
The German city of Hamburg, for example, started a three-year pilot project this month with Siemens to pre-emptively identify overloads on transformers and along cables, and manage EV charging points accordingly.
“Loading processes offer so much flexibility that the overload on the networks can be reduced by deferring loading times or reducing the load that is supplied,” said Thomas Werner, expert at Siemens Digital Grid.
“This happens through the digitization of hardware and software and with communication technology,” he said.
Using software to help protect aging power networks from predictable surges could also avoid costly hardware upgrades to parts of the 1.7 million km of distribution grids in Germany.
With few than 100,000 electric-only cars in Germany at the moment, there is little threat of blackouts from over-demand. But the Transport Ministry in Berlin envisages up to 10 million electric cars on the roads by 2030.
The number of charging points across the country also only stands at 21,000. That’s up 50% over the last year but still barely a fraction of future needs.
Next up for Netze BW is a trickier test.
Managing the power for 10 households with electric cars in a suburban street of 22 homes is one thing, now the power company is launching a study of car charging behavior in an apartment block with 80 flats, where quarrels over access are likely.
It is also looking at a study in rural areas, where the longer cables required present challenges in maintaining stable voltages for charging.
But that’s still only part of the story. Lossau said power companies would have to work more closely with carmakers to fill knowledge gaps and exchange information.
“It can only work if we get more data from each other.”
Can power napping solve electric car charging challenge?
Can power napping solve electric car charging challenge?
- German utility is studying electric car charging behavior
- Results show drivers accept overnight charging
Stellantis eyes expanding product range in Saudi Arabia, CEO says
- Dutch-based automobile manufacturer to introduce smart cars and light commercial vehicles into Saudi market
RIYADH: Dutch-based automobile manufacturing corporation Stellantis is planning to expand its product range in Saudi Arabia by introducing smart cars and light commercial vehicles into the market, an official has revealed.
In an interview with Arab News, Samir Cherfan, chief operating officer of Stellantis in the Middle East and Africa, said that the company’s Dare Forward 2030 plan aims to turn the automaker into a mobility tech company.
“Our approach in the Kingdom is multifaceted – and includes driving increased market share by expanding across brands and segments. This will be driven by introducing and expanding models including smart cars and light commercial vehicles under our Fiat, Citroen and Peugeot brands,” said Cherfan.
He added: “Moreover, Jeep is set to grow by reaching customers in new market segments while Ram will strengthen its position in the full-size pickup segment.”
Cherfan noted that Stellantis’ strategy in the Kingdom is aligned with Saudi Arabia’s Vision 2030 objectives.
He added that the company is committed to support Saudi Arabia’s economic diversification efforts and ongoing technological progress.
“By expanding our product range while improving efficiency and adopting new sustainable technologies, we aim not just for market dominance but also to support economic diversification and technological progress in Saudi Arabia,” he said.
Sustainability in focus
During the talk, the COO said that Stellantis’ move to reintroduce the Citroen brand in 2022 was to meet the rising demand for electric vehicles in the Saudi market, as the younger population in the Kingdom are giving priority to sustainability.
“In the Kingdom, Citroën offers a diverse range of vehicles that cater to young buyers – particularly in urban centers like Riyadh and Jeddah – including the growing number of women drivers,” said Cherfan.
He continued: “These younger demographics are typically looking for more sustainable, smaller, smarter models. As EVs produce zero emissions and zero noise, this in turn aligns with Vision 2030 objectives to enhance quality of life and reduce the Kingdom’s carbon footprint.”
According to Cherfan, Saudi Arabia’s economic diversification efforts aimed at reducing the Kingdom’s dependency on oil is also reshaping the automotive market in the country.
He added that Saudi Arabia’s sovereign wealth fund’s strategic investments in various sectors are also helping companies like Stellantis invest in the Kingdom.
“As the Kingdom is looking toward its post-oil economy and becoming more competitive internationally, this change is affecting the automotive market too. With the Public Investment Fund supporting the growth of the Kingdom’s economy by investing in different sectors, this opens doors for companies like Stellantis to invest and grow our business,” said Cherfan.
He added: “At Stellantis, we have a goal to increase our sales in Saudi Arabia and we believe that the Kingdom is a key to our plan to supply 90 percent of the cars and parts needed in the Middle East and Africa from within the region.”
The COO went on to say the company is planning to introduce new EV models in Saudi Arabia soon, as it eyes to grab 30 percent of this market by the end of this decade.
“When it comes to electrification, we are engaged with our Saudi Arabian partners with the objective of incorporating EV models or establishing dedicated EV brands within our product portfolios. Our aim is to have a 30 percent EV share by 2030 as set out in our Dare Forward Strategy,” he continued.
Encouraging local talents in the automotive industry
According to Cherfan, the automotive industry is an employment generator and is expected to grow at a double-digit rate till 2030 in Saudi Arabia as the Kingdom is embarking to ensure clean and autonomous mobility.
The official noted that the company currently has 12,000 employees in the Middle East and Africa region and among them only 20 are expats.
“In the Kingdom, through Stellantis and our distributor partners, we have over thousands of people working across different departments and under multiple brands, and we expect to continue to grow that number as our brands increase their market share,” said Cherfan.
He added that Stellantis aims to position itself as the most localized player in the region.
“We position ourselves as the partner in the country to maximize value creation. We have programs with universities, we have created dedicated training programs to upskill local talent. And with 1.2 billion people in our region, there is a lot of brilliant talent to be further developed,” continued Cherfan.
The company is aiming to achieve 70 percent regional production autonomy by 2030, representing a significant leap from its current level of 25 percent.
The COO said Stellantis aims to sell one million vehicles in the region by 2030, out of which 35 percent will be electric.
Strategic partnership with private and government entities
Cherfan further said that Stellantis’ strategy involves collaborating closely with local businesses, government entities and other stakeholders.
He pointed out that leveraging partnerships with local businesses is necessary to understand the market in Saudi Arabia, while collaborations with government entities is essential to navigate through regulatory frameworks.
“By working hand in hand with local companies, we can tailor our products and services to better meet the needs and expectations of Saudi consumers. Additionally, partnering with local businesses provides opportunities for technology transfer, skill development, and job creation, thereby contributing to the growth of the Saudi economy,” he noted.
Cherfan added: “By partnering with government agencies, we can ensure that our activities are in line with Saudi Arabia’s vision for economic diversification, sustainability, and innovation.”
He noted that government partnerships will also facilitate access to infrastructure and support programs, enabling the company to accelerate its growth and expansion efforts in the Kingdom.
Cherfan also underscored the vitality of collaborating with stakeholders like academic institutions, research centers and industry associations.
“Collaborating with these entities allows us to use cutting-edge research, innovation, and talent pools. By promoting partnerships with academia and research institutions, we can drive technological advancements, develop new products and solutions, and enhance our competitive edge in the Saudi market,” he concluded.
Egyptian startups secure funding to boost expansion to Saudi Arabia following a period of stagnation
Egyptian startups secure funding to boost expansion to Saudi Arabia following a period of stagnation
CAIRO: Startups in Egypt have started to gain momentum with several ventures securing funding to boost expansion efforts to the Kingdom.
Following a period of startup funding stagnation, Egyptian founders have made their way back to the regional venture capital space with a flurry of investment deals and expansion strategies already in place.
Egyptian fintech startup Waffarha has secured a seven-figure seed round from Value Makers Studio to expand its footprint.
Founded in 2012 by Tarek Magdy, the platform offers significant discounts, with daily deals ranging from 50 percent to 90 percent.
The new capital will enable Waffarha to enhance its technology, recruit talent, and expand into Saudi Arabia and additional markets.
Moreover, in 2018, Fawry for Banking Technology and Electronic Payments, one of Egypt’s largest financial institutions, acquired a share of 30 percent of the company.
The company claims to boast a network of over 1,000 merchants and over 3,000 stores that cater to more than 5 million customers, without any subscription fees.
Over the last 12 years, Waffarha claims to have emerged as a top-tier lifestyle website and mobile app.
Egyptian HRtech startup Bluworks secures $1m in pre-seed funding
Bluworks, an HR and Software-as-a-Service solutions provider based in Egypt, has raised $1 million in pre-seed funding led by Khawarizmi Ventures and included Camel Ventures, Acasia Ventures, and angel investors.
Founded in 2022 by Farah Osman, Hussein Wahdan, and Nour Ahmadein, Bluworks aims to optimize costs for businesses through data-driven decision-making.
“With so many HR softwares on the market, not one is built to manage blue-collar workers,” Wahdan said.
“Since the process of managing this type of workforce is so manual, errors frequently occur, leading to penalties and deducted salaries with no oversight from the workers, causing them to leave and ultimately contributing to high turnover rates,” he added.
“Currently, companies can spend about 7-10 days just closing their payroll accounts, but with Bluworks, this time can be cut down to one day - all while leveraging data and insights on their workforce,” he stated.
The company aims to utilize the funding to support its product development goals, expand its presence, and grow its team.
Egypt-based fintech Bokra closes $4.6m pre-seed funding round
Bokra, an emerging fintech startup from Egypt, has secured $4.6 million in pre-seed funding, led by DisrupTech Ventures and SS Capital.
Founded in 2023 by Ayman El-Sawy, Bokra offers diversified investment solutions for retail and SME investors.
The funds will support the launch of the Bokra app, expansion of its investment products, and scaling operations across the Middle East and North Africa region.
“We are dedicated to accelerating financial inclusion and elevating investment awareness across MENA,” El-Sawy said.
“In a region where financial needs and aspirations are ever-changing, Bokra is poised to become the preferred investment platform for both individuals and small and medium-sized enterprises looking to diversify their fractional ownership portfolio in a simple, trackable and informed way,” he added.
Egyptian startups win big in Saudi-Egyptian program
Ten Egyptian startups have received awards from the VMS Bridge program, aimed at enhancing connections between Egypt and Saudi Arabia’s entrepreneurial ecosystems.
Winners included Amanleek, Farhy, Sprints, Career180, and Jamaykaa, which will explore investment opportunities during a 4-day visit to the Kingdom.
Other winners, Notchnco and Neqabty, received free company licenses in Saudi Arabia, and AgriCash, ReNile, and ICareer won access to Arweqah’s training programs.
Jordan-based healthtech startup Arab Therapy secures $1m seed funding
Arab Therapy, a Jordan-based mental health platform, has raised $1 million in seed funding, led by Flat6Labs and Vision Health Pioneers, with participation from international angel investors.
Founded in 2021 by Tareq Dalbah, Omar Koudsi, and Hekmat Al-Hasi, Arab Therapy connects users with licensed mental health professionals.
The investment will facilitate the company’s market expansion and the initiation of business to business sales operations.
TVM Capital Healthcare invests $17m in Neurocare Group AG
TVM Capital Healthcare, based in the UAE, has invested $17 million into Neurocare Group AG, a Munich-headquartered healthtech specializing in personalized mental healthcare.
The investment will support Neurocare’s expansion plans in the US and Saudi Arabia and fund the development of new hardware and software innovations, enhancing their clinical solutions.
UAE-based logistics startup Shorages secures $1m for expansion
Shorages, a UAE-based logistics startup, has raised $1 million in a pre-series A funding round led by Joa Capital’s S3 Ventures Fund.
Founded in 2019 by Rayan Osseiran, the company provides fulfillment solutions in the UAE and Saudi Arabia for e-commerce platforms.
The company aims to utilize the funding to help expand its warehouse operations across the Gulf region.
UAE e-commerce startup WEE secures $12m in funding
UAE-based e-commerce startup WEE has concluded a $12 million pre-series A funding round, facilitated by SIG Investment.
Founded in 2021 by Anastasia Kim, Oleg Dashkevich, and Sergey Kolikov, WEE is an online marketplace that offers below 15-minutes delivery services.
The investment will be used to spearhead WEE’s logistics capabilities, accelerate growth, and expand its team.
Turkish fintech app Midas closes $45m funding round to boost MENA expansion
Turkish fintech app Midas closed a $45 million funding round by Portage, a global investment platform, supported by International Finance Corporation, Spark Capital and Earlybird Digital East Fund.
Founded by Egem Eraslan, the company allows users in Turkiye to invest in Turkish and US equities.
The startup is aimed at Turkiye’s retail investor market and claims to have more than 2 million users. The company claims to charge significantly lower transaction and commission fees for Turkish customers who want to invest in US or Turkish stocks.
Midas has plans to expand beyond Turkiye, and aims to target countries in the MENA region, according to a report by TechCrunch.
Midas also plans to use the new funding to roll out three new products in cryptocurrency trading, mutual funds and savings accounts.
UAE’s Maalexi signs agreement with Etihad Credit Insurance
Maalexi, a UAE-based risk management platform focused on SME agri-businesses, has entered into a strategic credit insurance agreement with Etihad Credit Insurance, the UAE’s federal export credit company.
This collaboration will enable Maalexi to utilize ECI’s extensive trade credit solutions and services, enhancing the competitiveness of regional SMEs in the food and agriculture trade sectors, both locally and internationally.
The partnership aims to reduce market entry barriers, support Maalexi’s goal of increasing SME participation in the cross-border trade of agricultural produce, and contribute to food security in the UAE.
Open Forum Riyadh to discuss digital currency, AI, and mental health
- The event will run in parallel to the WEF’s Special Meeting on Global Collaboration
LONDON: The Open Forum Riyadh — a series of public sessions taking place in the Saudi capital on Sunday and Monday — will “spotlight global challenges and opportunities,” according to the organizers.
The event, a collaboration between the World Economic Forum and the Saudi Ministry of Economy and Planning, will run in parallel to the WEF’s Special Meeting on Global Collaboration, Growth and Energy for Development, taking place in Riyadh on April 28 and 29.
“Under Saudi Vision 2030, Riyadh has become a global capital for thought leadership, action and solutions, fostering the exchange of knowledge and innovative ideas,” Faisal F. Alibrahim, Saudi minister of economy and planning, said in a press release, adding that this year’s Open Forum being hosted in Riyadh “is a testament to the city’s growing influence and role on the international stage.”
The forum is open to the public and “aims to facilitate dialogue between thought leaders and the broader public on a range of topics, including environmental challenges, mental health, digital currencies, artificial intelligence, the role of the arts in society, modern-day entrepreneurship, and smart cities,” according to a statement.
The agenda includes sessions addressing the impact of digital currencies in the Middle East, the role of culture in public diplomacy, urban development for smart cities, and actions to enhance mental wellbeing worldwide.
The annual Open Forum was established in 2003 with the goal of enabling a broader audience to participate in the activities of the WEF, and has been hosted in several different countries, including Cambodia, India, Jordan and Vietnam.
The panels will feature government officials, artists, civil-society leaders, entrepreneurs, and CEOs of multinationals.
This year’s speakers include Yazeed A. Al-Humied, deputy governor and head of MENA investments at the Saudi Pubic Investment Fund; Princess Reema Bandar Al-Saud, Saudi Arabia’s ambassador to the US; and Princess Beatrice, founder of the Big Change Charitable Trust and a member of the British royal family.
Michele Mischler, head of Swiss public affairs and sustainability at the WEF, said in a press release that the participation of the public in Open Forum sessions “fosters diverse perspectives, enriches global dialogue, and empowers collective solutions for a more inclusive and sustainable future.”
Meituan looks to hire in Saudi Arabia, indicating food delivery expansion
SHANGHAI: Chinese food delivery giant Meituan is seeking to hire staff for at least eight positions based in Riyadh, in a sign it may be looking to Saudi Arabia to further its global expansion ambitions, according to Reuters.
The jobs ads, which is hiring for KeeTa, the brand name Meituan uses for its food delivery operations in Hong Kong, is seeking candidates with expertise in business development, user acquisition, and customer retention, according to posts seen by Reuters on Linkedin and on Middle Eastern jobs site Bayt.com.
Meituan did not immediately respond to a request for comment by Reuters on its plans for Saudi expansion.
Bloomberg reported earlier on Friday that the Beijing-based firm would make its Middle East debut with Riyadh as the first stop.
Since expanding to Hong Kong in May 2023, Meituan’s first foray outside of mainland China, speculation has persisted that its overseas march would continue as the firm searches for growth opportunities, with the Middle East rumored since last year to be one area of possible expansion.
“We are actively evaluating opportunities in other markets,“ Meituan CEO Wang Xing said during a post-earnings call with analysts last month.
“We have the tech know-how and operational know-how, so we are quietly confident we can enter a new market and find an approach that works for consumers there.”
IMF opens first MENA office in Riyadh
RIYADH: The International Monetary Fund has opened its first office the Middle East and North Africa region in Riyadh.
The office was launched during the Joint Regional Conference on Industrial Policy for Diversification, jointly organized by the IMF and the Ministry of Finance, on April 24.
The new office aims to strengthen capacity building, regional surveillance, and outreach to foster stability, growth, and regional integration, thereby promoting partnerships in the Middle East and beyond, according to the Saudi Press Agency.
Additionally, the office will facilitate closer collaboration between the IMF and regional institutions, governments, and other stakeholders, the SPA report noted, adding that the IMF expressed its appreciation to Saudi Arabia for its financial contribution aimed at enhancing capacity development in its member countries, including fragile states.
Abdoul Aziz Wane, a seasoned IMF director with an extensive understanding of the institution and a broad network of policymakers and academics worldwide, will serve as the first director of the Riyadh office.
