Adio, Mubadala and Roborace to Drive Growth of Autonomous Technology and Metaverse in Abu Dhabi

The Abu Dhabi Investment Office and Mubadala Investment Company have signed a preliminary agreement with Roborace to accelerate the development of the mobility sector by using autonomous technologies and metaverse infrastructure to facilitate faster and wider adoption of these innovations.

The deal will build on the emirate’s innovation ecosystem, world-class infrastructure and strategic assets. It will be supported by Abu Dhabi Motorsports Management, which will provide access to the Yas Marina circuit, and deuxfour54, the media free zone of the capital, which will be a destination for production and office infrastructure for possible incorporation.

Roborace, the world’s first world championship for full-size electric autonomous racing cars, will also consider the opportunity to establish its regional headquarters in Abu Dhabi.

The deal was signed by Badr Al Olama, UAE Executive Director of Investments at Mubadala Investment Company; Mohammed Al Dhaheri, head of infrastructure partnerships at Adio; and Chip Pankow, Head of Competition at Roborace.

“We actively lead the innovation sector, shaping the industries of tomorrow. Through this strategic agreement, we aim to bring autonomous driving technology to the UAE and further develop autonomous driving systems and metaverse technologies and applications, laying the foundation for an exciting new industry in Abu Dhabi and aligned on our efforts to diversify the economy of the UAE. Mr. Al Olama said on Friday.

The UAE is stepping up efforts to develop its mobility sector, with autonomous driving technologies being a key segment. Last month, Cabinet approved a temporary license to test autonomous vehicles on the country’s roads; Two weeks later, at the Abu Dhabi Smart City Summit, the UAE unveiled its first fully autonomous taxi as part of a project called TXAI.

In October, Abu Dhabi announced the launch of a dedicated artificial intelligence research center, aimed at attracting talent from around the world to work on emerging innovations, including autonomous technologies.

In Dubai, three agreements were signed to develop innovative autonomous driving solutions at the Dubai World Congress for Autonomous Transport last month, involving leading entities from the United Arab Emirates, including conglomerate Majid Al Futtaim, the service carpool, and the e-commerce platform.

The metaverse, on the other hand, is defined as a digital space that allows those in it to communicate and move virtually in their avatars or digital representations in three dimensions. The concept was significantly advanced when Facebook rebranded itself as Meta Platforms, and chief executive Mark Zuckerberg said the company would now be “the metaverse first”.

The agreement between the three organizations is a testament to their commitment to the Fourth Industrial Revolution, and they believe AI, and the intersection of the physical and virtual worlds, will be crucial in shaping the future of industries and societies.

We aim to bring autonomous driving technology to the UAE and further develop autonomous driving systems and metaverse technologies and applications, laying the foundation for an exciting new industry in Abu Dhabi and aligned with our efforts to diversify l economy of the United Arab Emirates.

Badr Al Olama, Executive Director of Investments in United Arab Emirates at Mubadala Investment Company

Markus Thomas, investment manager at Adio, said the deal is fully aligned with Abu Dhabi’s approach to innovation and the emirate’s technological ambitions.

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Roborace exhibits one of its autonomous racing cars – and Guinness World Records’ fastest self-driving car – Robocar, at FutrWorld, which runs until Saturday in Manarat Al Saadiyat.

Updated: December 10, 2021, 13:52