Sheikh Mohamed bin Zayed Al Nahyan hands the award to Mostafa Al Momin at the 2025 Zayed Sustainability Prize on January 14,2025. SUPPLIED

Palki Motors Limited, a Bangladeshi startup company revolutionizing sustainable transportation, has clinched the prestigious 2025 Zayed Sustainability Prize in the Energy category. The announcement was made during the recent Abu Dhabi Sustainability Week, with Palki Motors receiving the $600,000 prize. Mostafa Al Momin, Founder and CEO of Palki Motors, expressed his gratitude and pride at the recognition. “This prize is not just for Palki Motors—it’s for every small business striving to make a positive impact on the world,” Al Momin said. He compared the award to a “Nobel Prize for sustainability,” emphasizing its role in elevating small companies to global recognition. Palki Motors produces low-cost, lightweight electric vehicles priced at an accessible $4,990, designed specifically for commercial drivers in Bangladesh. These vehicles aim to address the region’s unique transportation challenges while reducing environmental impact. The company also operates a network of solar-powered battery swap stations, benefiting over 23,000 people and exemplifying innovation in green energy solutions. The Zayed Sustainability Prize, named after UAE founding father Sheikh Zayed bin Sultan Al Nahyan, recognizes achievements in renewable energy, health, food, and water. It aims to inspire innovation that benefits humanity. Al Momin praised the UAE for setting a global benchmark in advancing sustainability through initiatives like this prize. “The financial support and global exposure from this award will help us expand our reach and impact,” Al Momin added. He highlighted that the recognition aligns with Palki Motors’ vision of fostering a cleaner, greener future. The affordable EVs have already made a significant difference in Bangladesh, where they provide a cost-effective solution for drivers and reduce reliance on fossil fuels. ICA/Expat Media
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