Mid East electric vehicles market set to skyrocket

electric cars
electric cars

Electric vehicles have been a sort of an enigma for the last generation, relegated only to sci-fi movies and concept boards of auto giants and the showstopper appearances at auto shows around the world.

There also was the looming threat of rapidly depleting fossil fuels which threatened to push the world to anarchy and chaos!

Fast forward to 2008 – a certain Tesla automotive rolled out a state of art Roadster model which heralded a revolution in the auto segment and things took a dramatic turn from there.

As of now, EVs share in the global car sales pie is predicted to rise from 1% in 2017 to 2.5% by 2020.  Bank of America- Merrill Lynch’s Thematic Investing report, predicts that by 2050 EVs will make up around 90% of all car sales.

Electric Cars

The middle east region has been no stranger to this phenomenon. A region which has been used to cheap fuel and gas-guzzling SUVs big block engines took some time to get used to a silent, albeit more efficient automotive.

By 2020, the UAE Government is aiming to reduce its carbon emissions by 15 %. Which comes on the back of 20% EV adoption within its own fleet. Dubai is planning to spend a fortune to incentivize EV adoption and get 42,000 EVs on its roads by the year 2030. All the auto majors are betting big on the region, UAE being the flag bearer. Quite a few new launches have been being planned over the next few years.

Oman has unveiled its first EV charging station at its Mazoon street service station. Although still a small number, it is still encouraging to see a step in the right direction. In this market, the best sellers are still the top end plug-in hybrids like BMW i8, Mercedes GLC350e, and Porsche Panamera PHEV. People buy them more for the inherent performance and associated prestige. The hybrid plug-in capability is just an added feature.

Things, however, might change if Tesla decides to land up in Oman, giving a much-needed boost to the EV market like how they did to the neighboring UAE.

Foodie, traveler, thinker. Its either all or nothing. Loves carbs and sweets 🙂

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