Demand for hybrid and electric vehicles in the UAE has grown despite fuel price fluctuations, according to Ricky Mullins, Executive Vice President of EXEED Al Ghurair Motors.
Mullins said the shift towards what he called “new energy” vehicles took shape some time ago, and pointed to a period of fuel price volatility around the Covid-19 pandemic as a point when interest in hybrid and electric vehicles (EV) picked up.
“We have seen us dip in and out on prices on fuel, and I can remember back in Covid it was spiking… and at that time hybrid was really kicking in, and people were looking at EV,” he told Lana in an exclusive interview. “If you use the term new energy, definitely you’re seeing a higher demand.”
He added that uptake of EXEED’s plug-in hybrid models did not require a marketing push from the brand. “On our plug-in hybrid models, I have to be honest with you, we did not really need to do anything from a marketing standpoint,” he said. “Those products were taking off extremely fast in the market before we even got to the strategies of PR and social media on how we build them in.”
He said the shift continues as buyers reconsider how such vehicles fit their daily lives. “People are questioning it themselves… how does this fit in my lifestyle, how do I make that work today,” he said. “The transition into new energy is really taking shape.”
Mullins’ comments came on the sidelines of the official opening of the new EXEED Sharjah showroom, which expands the brand’s presence to six locations across the UAE
Parts supply golds steady despite regional pressure
When asked whether EXEED has faced difficulty obtaining parts for customers, Mullins said this has not yet happened. “In this climate, not yet,” he said, revealing EXEED invested in parts distribution from the start of its UAE operations, a decision intended to avoid the supply issues that affected some Chinese brands five to eight years earlier.
“From day one, we purposely focused on our parts distribution and heavily invested in it. It comes at a price, however, we wanted to avoid that legacy issue and ensure that we are well maintained with parts, and today we can still maintain that,” he said.
“The current climate is a moving feast, so like all of our competitors, we are all navigating those situations,” Mullins said, adding that he expects the situation to ease in the second half of the year. “Hopefully, God willing, we are moving out of that… in the second half of this year we will be able to avoid that.”
EXEED RX, LX lead sales across segments
EXEED’s UAE line-up has gained traction across both retail and fleet channels, with the RX and LX emerging as key performers for the brand. Mullins said the RX has remained a top seller since launch, first gaining momentum in the B2C market before extending into B2B sales through its international hybrid variant.
“The RX from day one, since launch, has always been a strong seller. It started incredibly well in B2C, and now it’s transitioning as well in B2B with the international hybrid,” he said. He said the LX has performed at a similar level since its face lift, with both models leading the range. “It is the RX and the LX,” he said.
“It’s very rare to see a manufacturer launch product and get them all working, because they will have their segments and each segment has a talent,” he added, crediting that result to EXEED’s first four UAE launches.
Safety, technology and the premium question
However, what are UAE customers looking for in a premium vehicle today?
Mullins pointed to safety, technology and running costs. “Safety was one of the five pillars – safety was number one,” he said of EXEED’s launch strategy. “The cars from a safety point of view are super strong, coupled with the technology behind it.”
“I think we did a good job with maintenance when we launched the brand. We made sure that we were in the right position when it comes to parts and supply,” Mullins further explained, adding that established brands in the premium segment face pressure from Chinese manufacturers offering reliability, technology and safety at competing levels.
“I think the Chinese have done a really great job in that area, and I felt that even before I launched EXEED.”
Eight models, six with new energy options, by 2027
Mullins said EXEED is evolving into what he termed a new energy brand. “EXEED is evolving into a new energy brand,” he said. “By the end of the year, as soon as we hit 2027, we will have eight models, and six of them will have new energy options – whether it is hybrid or REV technology… That’s the next step to full electrification.”
Mullins said EXEED and Al Ghurair set out a five-year business plan when the partnership began, and that the brand’s immediate goal remains meeting the targets set at the start of that plan.
“We looked at a five year business plan, and the first five years are critical – we have had a bit of turbulence this year, like everybody. However, our immediate goal is to achieve what we set out to do with EXEED in their first five years. EXEED is not done with its model line – there is still more happening behind the scenes that will come. There is some really exciting stuff that will come in the next two to three years that will help us move into that, and also continue that new energy journey,” he said.
He said EXEED’s aspiration, shared with Al Ghurair, is to become a recognised new energy player in the region. “The aspiration is to become a very, very well-recognised new energy player, and we know there are some serious competitors out there and that we have got a lot of work to do to stand next to,” he said.
Mullins said EXEED’s buyers are split fairly evenly across the UAE’s resident population, including both the Arab expatriate community and Emirati nationals, with ages ranging from roughly 35 to 65. “We get an even split… we do enjoy a good mix with the Arabic expat community and Emirati,” he said, adding younger people, while not the buyers themselves, influence purchase decisions.
He revealed many parents visit the showroom with their children, often aged between 11 and 20, and it is the younger family members who show the strongest interest in the cars, taking photos and asking questions while their parents handle the purchase.
Mullins also confirmed further model launches are planned for this year, alongside another model receiving updates, with two further introductions pending confirmation from EXEED. “We have got another model coming up… and then we’ve got two new introductions that will happen – we are waiting for confirmation from EXEED,” he said.
“The big thing for us is the growth point on our after-sales division. We are really committed to our after-sales, for the customer journey,” he said, adding: “Really proud of that service centre downstairs,” he added.
A second service location is due to open within around six weeks, with fit-out work already under way. “We’ve got a much bigger service location coming up in about six weeks in Al Quoz so it is a long way into its fit-out, and we are really focused on that as well, because we really want to evolve that customer journey,” he concluded.
