Officials from the ADIO, Mubadala, and Roborace during the signing ceremony.
Abu Dhabi Investment Office (ADIO), Mubadala Investment Company (Mubadala), and Roborace have signed a Memorandum of Understanding (MoU) to encourage innovation in the mobility industry as well as at the crossroads between physical, virtual reality and esports in Abu Dhabi.
Roborace is the world’s first global championship for full-size electric-powered autonomous racecars. The agreement will build upon the emirate’s innovation ecosystem, world-class infrastructure, and strategic assets.
Under the terms of the agreement, ADIO, Mubadala, and Roborace will work together to develop innovative products based on autonomous technologies and the Roborace metaverse infrastructure to accelerate and broaden the adoption of autonomous vehicle technology while maintaining a focus on sustainability.
Roborace will examine establishing a regional headquarters in Abu Dhabi, as well as operating future seasons of its autonomous racing series in the emirate.
Further, it will collaborate with ADIO and Mubadala on the development of its metaverse technology from the testing and simulation of autonomous driving systems in specialized centers of expertise in Abu Dhabi.
According to the statement, “The agreement will be supported by Abu Dhabi Motorsports Management, which will provide access to Yas Marina Circuit, and twofour54, the capital’s media free zone, which will be a destination for production and office infrastructure for potential incorporation.”
Markus Thomas Head – Investments ADIO
“Roborace is a cutting-edge technology platform that touches many focus areas of ADIO’s drive for innovation – its autonomous racing series provides a testing ground for the most advanced autonomous driving systems encouraging innovation in an ecosystem rather than a single company. This is fully aligned with Abu Dhabi’s approach to innovation and the emirate’s technology-related ambitions. Crossing an innovative media and engagement platform with advanced simulation technology in the metaverse advances Abu Dhabi’s gaming agenda while building an access point for a global audience and automotive OEMs alike. With our strategic Abu Dhabi partners, we are looking forward to making this possible.”
“We are actively leading the innovation sector, shaping the industries of tomorrow. Through this strategic MoU, we aim to bring autonomous driving technology to the UAE, and further develop Autonomous Driving Systems and metaverse technologies and applications, laying the foundation of an exciting new sector in Abu Dhabi and aligned with our efforts to diversify the economy of the UAE,” commented Mr. Badr Al Olama, Executive Director at UAE Investments, in Mubadala Investment Company.
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