The UAE, with an aim to become carbon neutral by 2050, ranked 8th globally in terms of readiness for electric mobility, according to a new study conducted by management consultancy firm Arthur D. Little (ADL).
The report, which analyzes market drivers for electric vehicles (EVs) and evaluates overall readiness across markets, shows that the Global Electric Mobility Readiness Index – Gemrix 2022 finds that there has been a massive jump in Electric Vehicle (EV) adoption worldwide.
The UAE EV market is currently in the early stages and is forecast to grow at a compound annual growth rate (CAGR) of 30 percent between 2022 and 2028, according to the report. Passenger vehicles constitute around 95 percent of the EV market in the UAE due to an increase in rental car services and the limited scope for commercial vehicles in transport and logistics. Under UAE Vision 2021, the government has promoted EV adoption across the nation. It has converted 20 percent of government agency cars to EVs and further intends to reach 42,000 EVs on the streets by 2030.
The UAE has one of the biggest charging-station-to-vehicle-ratios in the world. Dubai’s EV Green Charger initiative was launched in 2015 to increase the number of charging stations. Since then, the network has expanded and, as of this writing, the country has 325 charging stations. To promote the use of EVs, Dubai Electricity & Water Authority and Road Transport Authority are working jointly on incentives like free parking, exemption from tolls, and reduced registration fees with an aim to make public transport emission-free by 2050.
Moreover, findings also reveal that governments across the Middle East region are accelerating the development of EV technology with Saudi Arabia’s pledge to become carbon neutral by 2060 and have 30 percent of vehicles in Riyadh electric by 2030.
