The global rollout of new EV models is accelerating adoption in middle east as governments and consumers embrace the transition away from the internal combustion engine.
While the EV sector is beset by some major crosscurrents strategists expect technology innovation to supersede these forces in the coming years.
As increased competition, government incentives and falling prices of battery-related products and vehicle components make EVs more affordable, the likelihood grows of at least some models becoming as cheap as vehicles with IC engines before the year ends.
The increasing focus on EV adoption, including in the Arab Gulf states, is largely driven by national commitments to accelerate the transition from fossil fuels to renewable energy sources to achieve net-zero targets within the coming decades.
This transition will not happen overnight, however, as the Gulf countries still need to increase greatly the number of charging stations available for these new vehicles — to give EVs sufficient range and to incentivize consumers to buy electric.
Currently, eco-friendly or hybrid vehicles make up some 50 percent of the Dubai Roads and Transport Authority’s taxi fleet. A five-year plan has been launched to have only hybrid, electric or hydrogen-powered taxis on the emirate’s roads by 2027.
The Saudi public has a strong affinity for their cars. There’s so much enthusiasm for classic cars and for iconic car models.