The UAE comes in the eighth position globally for its readiness of markets for electric mobility.
The electric vehicle (EV) market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 30 per cent between 2022 and 2028 in the country.
Accelerated by the increasing threat of climate change, interest in electric mobility has escalated over the last four years.
According to a new study conducted by Arthur D. Little (ADL), a management consultancy firm with the longest-standing presence in the Middle East region, “this has happened both within companies and across societies”.
UAE EV Market
Under UAE Vision 2021, the government has promoted EV adoption across the nation.
According to the report, the UAE EV market is currently in the early stages and forecast to grow at a CAGR of 30 per cent between 2022 and 2028.
Passenger vehicles constitute around 95 per cent 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.
It has converted 20 per cent 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. The country is said to have 325 charging stations.