UAE ranks eighth globally for its readiness of markets for electric mobility

UAE ranks eighth globally for its readiness of markets for electric mobility

The UAE EV market is estimated to grow at a CAGR of 30 per cent between 2022 and 2028

Governments across the Middle East region are accelerating development of EV technology with the UAE, aiming to become carbon neutral by 2050 and ranking in the top 10 globally in terms of readiness for electric mobility. — File photo

By Staff Report Published: Thu 22 Sep 2022, 2:50 PM Last updated: Thu 22 Sep 2022, 2:51 PM

The UAE ranks eighth 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”.

Joseph Salem, partner and travel and transportation practice lead at Arthur D. Little Middle East, said governments in the Middle East are increasingly receptive to EV technology on the roads with the UAE ranking high in readiness for electric