Dubai: Planning to buy electric vehicles? Loans, insurance, charging points; all you need to know

Dubai: Planning to buy electric vehicles? Loans, insurance, charging points; all you need to know

Several brands of EVs are available in UAE, including Tesla, BMW, Volkswagen, Kia, Renault, Hyundai, Porsche and the locally produced car Damani

Published: Sun 19 Jun 2022, 4:46 PM

Amid rising fuel prices, there has been a lot of discussion about electric vehicles. So what is an electric vehicle (EV)? An EV uses an electric motor for propulsion instead of a conventional vehicle, which operates using a diesel or gasoline motor.

EVs have several benefits, including promoting improved air quality, decreasing noise pollution, decreasing dependency on fossil fuels, and reducing greenhouse gas emissions. According to the figures released by Dubai Electricity and Water Authority (Dewa) earlier this year, the number of registered electric vehicles increased from 71 on December 31, 2015, to 5,107 on January 31, 2022.

Khaleej Times has put together everything you need to know before diving into the EV world.

According to information listed on the Dubai EV Community Hub website, the following bank loan offers are available to purchase electric vehicles.

Emirates NBD offers green auto loans with the following offers:

0.50% discount on reducing interest rate

0.25% discount on flat interest rate

HSBC offers green car loans with the following offer:

50% arrangement fee discount

0.25% rate discount on applicable interest rate

National Bank of Fujairah offers