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Futuristic Electric Self-Driving Trucks Are Coming To The UAE
Startup Einride is about to begin its expansion into the Middle East.
Einride, a Swedish startup and pioneer in electric autonomous freight transport, is expanding into the Middle East. The move follows a collaboration agreement with the government of the United Arab Emirates to accelerate the transition to sustainable logistics and shipping.
Founded in 2016, Einride has a grand vision to decarbonize the freight industry by developing an entire ecosystem of electric and autonomous vehicles, charging stations, and connectivity networks.
The Scandinavian firm is already operating in Europe and the United States and will soon add over 550 km of its autonomous logistics ecosystem to Abu Dhabi, Dubai, and Sharjah. The project, known as Falcon Rise Grid, will encompass 2,000 electric trucks, of which 200 will be fully autonomous. Einride will develop the project over the next five years, which will include the installation of 500 charging points and other network hardware.
“This collaboration gets to the core of what Einride provides — the transformation to effective and sustainable shipping that is fully electric,” announced Einride founder and CEO, Robert Falck. The startup, which has already partnered with the likes of Coca-Cola and Oatly, says its clients have reduced emissions by up to 95% while staying competitive.
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The UAE’s Falcon Rise Grid project follows a series of expansions for Einride over the past year, including Germany, Benelux, and the UK. In 2019 the company became the first to deploy an autonomous electric vehicle on a public road in Sweden, and in 2022, received approval to do the same in the United States.
News
Saudi Digital Payments Reach 80% As Cash Use Shrinks
Visa data shows cards and mobile wallets dominate spending, with smartphones now driving a growing share of daily transactions.
Digital payments now account for 80% of all transactions in Saudi Arabia, according to Visa’s latest Where Cash Hides report, another marker of how quickly the Kingdom is moving away from cash.
The share is up four percentage points from a year ago. Around 67% of consumers are now largely non-cash users, paying mainly with cards or mobile wallets. Smartphones are taking a bigger role, with mobile payments making up 16% of transactions.
Cash is retreating in routine spending. Eating out dropped 9%. Bill payments fell 8%, as shoppers opt for faster checkouts and app-based payments.
“The data shows a steady move toward digital payments in Saudi Arabia. Such progress is possible only because banks, fintechs, merchants, and technology partners are moving together in the same direction, in line with the Kingdom’s Vision 2030,” said Ali Bailoun, Visa’s Senior Vice President and Group Country Manager for Saudi Arabia, Bahrain, and Oman.
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Despite the recent findings, it’s important to note that cash hasn’t yet disappeared. It still shows up for tips (39%), peer-to-peer transfers (28%) and rent (14%).
Visa points to security features such as tokenization, along with rewards and cashback, as factors nudging more spending onto cards and phones — a shift that tracks with Saudi Arabia’s wider Vision 2030 push to digitize commerce.
Saudi Digital Payments Reach 80% As Cash Use Shrinks
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