Qatar’s electric vehicles market to reach 10% domestic sales by 2030

Qatar’s electric vehicles market to reach 10% domestic sales by 2030

Doha, Qatar: Passenger electric vehicles (EV) in the country are expected to reach 10 percent sales by 2030 as the government works towards collaborating with E-vehicle organisations to achieve this feat.

Recently, the Ministry of Transport announced that in line with national vision 2030, 35 percent of the total vehicles of its fleet and all public transport will be changed to EV mode in the next 7 years. With the implementation of this initiative, the E-vehicle market is expected to rapidly increase during the forecast period.

Commenting on the partnerships by the government and E-vehicle companies, Fitch Solutions analysts report that the market will witness a rising demand and will drive passenger EV sales by more than 300 percent in 2023 to reach year-on-year sales volumes of around 600 units.

The report states that the E-vehicle sales will see nearly 48 percent annual sales growth by 2032 to reach an annual sales volume high of almost 15,000 units.

“This will represent a passenger EV penetration rate of 20.4 percent in 2032,” the report said adding that the market is poised to witness higher growth in the years to come.

Fitch Solutions highlighted that the country “will reap economic benefits from lower geopolitical risks in the