Beam Global and Platinum Group UAE Sign Joint Venture Agreement Creating Beam Middle East LLC
Beam Global (Nasdaq: BEEM) has announced a strategic 50/50 joint venture with Platinum Group UAE to form Beam Middle East LLC. The new entity will manufacture and sell Beam's sustainable infrastructure solutions for transportation electrification across the Middle East and African regions.
The joint venture leverages Platinum Group's high-level government relationships and Beam's clean technology solutions. The partnership targets a regional market where EV growth is projected to reach 1.5 million vehicles by 2030, representing a 66.6% CAGR. The venture includes potential revenue opportunities across multiple product lines, including $516.5 million for EV ARC units and $245.0 million for BeamBike units by 2030.
Beam Middle East will be headquartered in Masdar City, Abu Dhabi, supporting UAE's net-zero goals by 2050.
Beam Global (Nasdaq: BEEM) ha annunciato una joint venture strategica al 50/50 con Platinum Group UAE per creare Beam Middle East LLC. La nuova società produrrà e commercializzerà le soluzioni infrastrutturali sostenibili di Beam per l'elettrificazione dei trasporti in Medio Oriente e Africa.
La joint venture sfrutta le solide relazioni governative di Platinum Group e le tecnologie pulite di Beam. La partnership si rivolge a un mercato regionale con una crescita prevista dei veicoli elettrici di 1,5 milioni di unità entro il 2030, con un CAGR del 66,6%. Le opportunità di ricavi includono diverse linee di prodotto, come 516,5 milioni di dollari per le unità EV ARC e 245,0 milioni di dollari per le unità BeamBike entro il 2030.
Beam Middle East avrà sede a Masdar City, Abu Dhabi, supportando gli obiettivi di neutralità carbonica degli Emirati Arabi Uniti entro il 2050.
Beam Global (Nasdaq: BEEM) ha anunciado una joint venture estratégica al 50/50 con Platinum Group UAE para formar Beam Middle East LLC. La nueva entidad fabricará y venderá las soluciones de infraestructura sostenible de Beam para la electrificación del transporte en las regiones de Medio Oriente y África.
La joint venture aprovecha las relaciones gubernamentales de alto nivel de Platinum Group y las soluciones de tecnología limpia de Beam. La asociación apunta a un mercado regional donde se proyecta que el crecimiento de vehículos eléctricos alcance 1.5 millones de vehículos para 2030, con una Tasa de Crecimiento Anual Compuesta (CAGR) del 66.6%. Las oportunidades de ingresos incluyen múltiples líneas de productos, como 516.5 millones de dólares para unidades EV ARC y 245.0 millones de dólares para unidades BeamBike para 2030.
Beam Middle East tendrá su sede en Masdar City, Abu Dhabi, apoyando los objetivos de cero emisiones netas de los Emiratos Árabes Unidos para 2050.
Beam Global (나스닥: BEEM)은 Platinum Group UAE와 50:50 전략적 합작 투자로 Beam Middle East LLC를 설립한다고 발표했습니다. 새 법인은 중동 및 아프리카 지역에서 Beam의 지속 가능한 교통 전기화 인프라 솔루션을 제조 및 판매할 예정입니다.
이번 합작 투자는 Platinum Group의 고위 정부 네트워크와 Beam의 친환경 기술 솔루션을 활용합니다. 이 파트너십은 2030년까지 150만 대의 전기차 성장이 예상되는 지역 시장을 목표로 하며, 연평균 성장률(CAGR) 66.6%를 기록할 전망입니다. 매출 기회는 EV ARC 유닛 5억 1,650만 달러와 BeamBike 유닛 2억 4,500만 달러 등 여러 제품군에 걸쳐 있습니다.
Beam Middle East는 아부다비 마스다르 시티에 본사를 두고, UAE의 2050년 넷제로 목표를 지원할 예정입니다.
Beam Global (Nasdaq : BEEM) a annoncé une coentreprise stratégique à parts égales avec Platinum Group UAE pour créer Beam Middle East LLC. Cette nouvelle entité fabriquera et commercialisera les solutions d'infrastructure durables de Beam pour l’électrification des transports au Moyen-Orient et en Afrique.
La coentreprise s’appuie sur les relations gouvernementales de haut niveau de Platinum Group et sur les solutions technologiques propres de Beam. Le partenariat cible un marché régional où la croissance des véhicules électriques devrait atteindre 1,5 million de véhicules d’ici 2030, avec un TCAC de 66,6 %. Les opportunités de revenus incluent plusieurs gammes de produits, notamment 516,5 millions de dollars pour les unités EV ARC et 245,0 millions de dollars pour les unités BeamBike d’ici 2030.
Beam Middle East aura son siège à Masdar City, Abu Dhabi, soutenant les objectifs de neutralité carbone des Émirats arabes unis d’ici 2050.
Beam Global (Nasdaq: BEEM) hat eine strategische 50/50-Joint-Venture mit Platinum Group UAE angekündigt, um Beam Middle East LLC zu gründen. Das neue Unternehmen wird Beams nachhaltige Infrastruktur-Lösungen für die Elektrifizierung des Verkehrs in den Regionen Naher Osten und Afrika herstellen und vertreiben.
Das Joint Venture nutzt die hochrangigen Regierungsbeziehungen von Platinum Group und Beams saubere Technologien. Die Partnerschaft zielt auf einen regionalen Markt ab, in dem ein Wachstum von 1,5 Millionen Elektrofahrzeugen bis 2030 erwartet wird, mit einer jährlichen Wachstumsrate (CAGR) von 66,6%. Die Umsatzchancen umfassen mehrere Produktlinien, darunter 516,5 Millionen US-Dollar für EV ARC-Einheiten und 245,0 Millionen US-Dollar für BeamBike-Einheiten bis 2030.
Beam Middle East wird seinen Hauptsitz in Masdar City, Abu Dhabi, haben und unterstützt die Netto-Null-Ziele der VAE bis 2050.
- Strategic expansion into Middle East and African markets through 50/50 joint venture
- Partnership with influential Platinum Group provides access to high-level government relationships
- Addressable revenue potential of $516.5M for EV ARC units by 2030
- Additional $245M revenue opportunity for BeamBike units by 2030
- Regional EV market projected to grow at 66.6% CAGR through 2030
- Significant investment required for regional manufacturing facility development
- Heavy reliance on partner relationships for market penetration
- Success dependent on projected EV adoption rates materializing
Insights
Beam's joint venture with influential UAE partner unlocks massive Middle East market opportunity for EV infrastructure amid regional electrification push.
This joint venture with Platinum Group UAE represents a significant strategic expansion for Beam Global, providing critical market access in the Middle East and Africa. The partnership addresses two crucial elements for success in these regions: technological solutions and high-level relationships. Platinum Group's connections with UAE leadership and regional governments will open doors that would be otherwise inaccessible to a foreign company.
The market potential outlined in the release is substantial, with projected EV growth from 69,000 to 1.5 million vehicles by 2030 (66.6% CAGR) across five key markets. The revenue opportunities are precisely quantified: $516.5 million for EV ARC units, $245 million for BeamBike infrastructure, $322.1 million for BeamSpot units in Abu Dhabi alone, plus additional opportunities for BeamPatrol and BeamSkoot products.
Strategically, this joint venture delivers three critical advantages: 1) geographic diversification beyond the US market, 2) local manufacturing capabilities which will reduce logistics costs and enhance margins, and 3) premium positioning through the headquarters in Masdar City, a globally recognized sustainable urban development.
The 50/50 ownership structure suggests balanced contributions and aligned incentives between the partners. The timing aligns perfectly with the UAE's net-zero 2050 initiative and the broader Gulf region's push toward sustainability and smart city development, creating a conducive environment for rapid adoption.
SAN DIEGO, June 26, 2025 (GLOBE NEWSWIRE) -- Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced that it has entered into a joint venture agreement with the Platinum Group LLC, based in the United Arab Emirates (UAE). Chaired by His Royal Highness, Sheikh Mohammed Sultan Bin Khalifa Al-Nahyan, the Platinum Group UAE is recognized for its well-established and trusted relationships across government and industry.
Beam Global and the Platinum Group will form a new entity, Beam Middle East LLC, which will sell and manufacture Beam Global’s patented sustainable infrastructure solutions for transportation electrification, energy storage, energy security, and smart city development across the Middle East and African regions. This joint venture supports Beam Global’s strategy of geographic diversification by opening new markets and creating opportunities for revenue growth outside the United States. Beam Global, Beam Europe, and now Beam Middle East will each sell and manufacture the company’s full portfolio of patented sustainable technology solutions.
“The Platinum Group is an organization of the highest reputation, influence and relationships in Abu Dhabi and the surrounding region. They are a perfect partner to accelerate Beam Global's growth in the Middle East and Africa,” said Desmond Wheatley, CEO of Beam Global. “With planned spending on sustainable infrastructure in the region projected to reach
“The Platinum Group seeks out the highest quality, most timely and relevant companies in each of the industries we target. Beam Global's unique and patented products are ideally suited to provide value to governments and businesses, as the Gulf region and beyond transitions to clean and sustainable technologies,” said Dr Ali Nasser Sultan Al Yahbouni Al Daheri, CEO of Platinum Group. “We are looking forward to ensuring that our new joint venture with Beam Global, forming Beam Middle East, is a highly successful enterprise with wins in the Middle East and increasingly in Africa. With abundant sunshine and fast-growing adoption of electric vehicles (EVs), renewables, and energy storage, the region is perfect for Beam Global’s solutions. Energy security and Smart Cities solutions like those offered by Beam Middle East are at the forefront of government planning. Our timing is right, and our partnership is formed on mutual benefit from growth and success. We are delighted to have Beam Global as part of our growing family of businesses.”
Middle East Market Overview Across Five Key Markets: UAE, Saudi Arabia, Qatar, Oman, and Jordan
- The number of EVs in the region is projected to grow from approximately 69.0 thousand in 2024 to approximately 1.5 million by 2030 (Table 1), representing a compound annual growth rate (CAGR) of
66.6% . - Assuming a
5.0% share of regional chargers using EV ARC™ units, the addressable revenue could reach$516.5 million by 2030. - If eBikes account for just
5.0% of total EV volume and follow the same growth trajectory (Table 2), BeamBike™ units could represent a$245.0 million revenue opportunity in the region by 2030.
Middle East Market Overview: Abu Dhabi Case Study
- The UAE eBike market is projected to reach
$443.8 million by 2030. Assuming15.0% of that spend goes toward charging infrastructure, and that Abu Dhabi accounts for35.0% of the national market based on population, the addressable eBike charger market for BeamBike™ in Abu Dhabi is approximately$23.3 million . - A streetlight-to-population ratio based on New York City, applied to Abu Dhabi’s estimated 3.8 million residents (Table 3), suggests BeamSpot™ units could represent a potential revenue opportunity of approximately
$322.1 million assuming a market penetration of5.0% . - Using Abu Dhabi’s population and a comparable U.S. Police motorcycle fleet ratio (Table 4), the opportunity to electrify local law enforcement fleets with BeamPatrol™ units is estimated at approximately
$2.4 million . - With over 5.8 million annual hotel guests, Abu Dhabi also offers a strong use case for BeamSkoot™ at resorts, both for logistics and recreational purposes. Assuming adoption rates of
10.0% (Table 5), the potential revenue opportunity for BeamSkoot™ units could reach approximately$10.0 million .
The above scenarios are estimates only, based upon market data taken from internet resources. Beam Global believes these case studies can be replicated in other markets across the Middle East and Africa.
Key Terms of the Agreement
Beam Middle East LLC will be a 50/50 joint venture between Beam Global and Platinum Group UAE, incorporated in Abu Dhabi. Beam Global will license its proprietary technologies to the joint venture and support it with incoming opportunities, training, marketing materials, and procurement assistance. Platinum Group will leverage its existing relationships at the highest levels, coordinate local sales, provide experienced and influential business development professionals, and establish manufacturing capabilities efficiently and inexpensively. Both parties will collaborate on the development of a regional manufacturing facility for the products. Beam Middle East will be headquartered in Masdar City, a pioneering sustainable urban community and world-class business and technology hub, where Platinum Group has recently signed an agreement. Masdar City is located in Abu Dhabi, the capital of the UAE, strategically positioned at the center of the country’s drive toward a net-zero future by 2050.
About Platinum Group UAE
Platinum Group UAE is a diversified, multi-billion-dollar conglomerate operating in energy, real estate, finance and investing, healthcare, information technology, sports and entertainment, food services and legal services in the Emirate of Abu Dhabi, United Arab Emirates. Chaired by His Royal Highness Sheikh Mohammed Sultan Bin Khalifa Al-Nahyan, son of the former ruler of Abu Dhabi, the Group is recognized for its well-established and trusted relationships across government and industry. Platinum Group UAE is headquartered in Abu Dhabi, with offices in Dubai and Sharjah. For more information visit, PlatinumGroupUAE.com.
About Beam Global
Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit, BeamForAll.com, LinkedIn, YouTube, Instagram and X (formerly Twitter).
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "potential," "will," "would," "could," "should," "may," or similar expressions. These statements include, but are not limited to, statements regarding the expected benefits, market potential, and future operations of Beam Middle East LLC; anticipated revenue opportunities in the Middle East and African regions; projections regarding electric vehicle and infrastructure market growth; and strategic goals and international expansion plans of Beam Global.
These forward-looking statements are based on current assumptions and expectations that are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the statements. Factors that may cause such differences include, among others, risks associated with entering new markets and joint ventures, including regulatory and operational challenges; risks relating to the adoption of EV technologies and infrastructure in foreign jurisdictions; the ability to develop and scale manufacturing capabilities in the region; the effectiveness of partnerships; and general economic, political, and business conditions in the Middle East and Africa. Additional risks and uncertainties are detailed in Beam Global’s filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Beam Global disclaims any obligation to update or revise these forward-looking statements, except as required by law.
Media Contact
Andy Lovsted
+1 858-327-9123
Press@BeamForAll.com
Investor Relations
Luke Higgins
+1 858-261-7646
IR@BeamForAll.com
Appendix 1 – Sources for Middle East Market Overview Sections
Table 1 - Projected Growth of EV Adoption in the Middle East
| Number of EVs in 2024 | Number of EVs in 2030 | |
| Countries: | ||
| UAE | 28,000 | 42,000 |
| Saudi Arabia | 23,170 | 1,300,000 |
| Qatar | 5,624 | 75,167 |
| Oman | 2,200 | 13,500 |
| Jordan | 10,000 | 45,000 |
| Total Number of EVs: | 68,994 | 1,475,667 |
Table 2 - Projected Growth of eBike Adoption in the Middle East Assuming
| Number of eBikes in 2024 | Number of eBikes in 2030 | |
| Countries: | ||
| UAE | 1,400 | 2,100 |
| Saudi Arabia | 1,159 | 50,000 |
| Qatar | 281 | 3,758 |
| Oman | 110 | 675 |
| Jordan | 500 | 2,250 |
| Total Number of eBikes: | 3,450 | 58,783 |
Table 3 - Estimated Number of Streetlights in Abu Dhabi Based on New York City’s Streetlight-to-Population Ratio
| Population of NYC | 8,258,000 |
| Number of Street Lights | 400,000 |
| Number of Street Lights per Person | 21 |
| Population of Abu Dhabi | 3,800,000 |
| Number of Street Lights approx. | 180,952 |
Table 4 - Estimated Size of Abu Dhabi Police Motorcycle Fleet Based on a Comparable U.S. Ratio
| Population of NYC | 8,258,000 |
| Number of Police Motorcycles | 115 |
| Number of People per Motorcycle | 71,809 |
| Population of Abu Dhabi | 3,800,000 |
| No. of Police Motorcycles approx. | 53 |
Table 5 – Estimated eScooter Demand in Abu Dhabi Based on Annual Number of Hotel Guests
| No. Hotel Guests in Abu Dhabi Annually: | 5,811,000 |
| Scenario: | |
| Number of Tourists Renting Annually ( | 581,100 |
| Rentals per day | 1,592 |
| Average Rentals per Scooter per Day | 4 |
| eScooters Required | 398 |
FAQ
What is the new joint venture between Beam Global (BEEM) and Platinum Group UAE?
What is the market potential for Beam Global (BEEM) in the Middle East?
Where will Beam Middle East LLC be headquartered?
What is the projected EV growth in the Middle East region by 2030?
How will the joint venture structure work between Beam Global and Platinum Group?
