UAE Ranks Eighth Worldwide in Readiness for Electric Mobility

04 Nov 2022
UAE Ranks Eighth Worldwide in Readiness for Electric Mobility

Ranked eighth globally, the UAE exhibits a significant readiness to embrace electric mobility, marking a noteworthy milestone. With a projected Compound Annual Growth Rate (CAGR) of 30 percent between 2022 and 2028, the country’s electric vehicle (EV) market stands poised for substantial expansion. Interest in electric mobility has surged notably over the past four years, spurred by escalating concerns about climate change.

A recent study by Arthur D. Little (ADL), a renowned management consultancy firm with extensive experience in the Middle East, highlights a tangible shift toward electric mobility within both corporate entities and society at large. In line with its Vision 2021, the UAE government actively promotes nationwide EV adoption.

The UAE’s EV market, currently in its nascent stage, is projected to grow at a CAGR of 30 percent from 2022 to 2028. Passenger vehicles overwhelmingly dominate the market share, accounting for approximately 95 percent. This dominance stems from the rise in rental car services and the limited application of commercial vehicles in transportation and logistics. To further drive EV adoption, the government has already converted 20 percent of its agency vehicles to EVs and aims to reach 42,000 EVs on the roads by 2030. The UAE proactively develops infrastructure to support EV growth, boasting one of the world’s highest charging-station-to-vehicle ratios.

Notably, Dubai’s EV Green Charger initiative, launched in 2015, significantly expands the charging network, with 325 charging stations across the country.

Source: KhaleejTimes