Tuesday July 23rd, 2024
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EVs Will Account for 25% of UAE Car Sales by 2035 According to PwC

The number of electric vehicles is set to surge from three percent as the variety of available options increases.

Scene Now UAE

EVs Will Account for 25% of UAE Car Sales by 2035 According to PwC

As the adoption of electric vehicles (EVs) continues to expand in the UAE, PwC - one of the Big Four accounting and professional services companies - has predicted that EVs will account for a quarter of all new vehicle sales in the Emirates by 2035, as the country continues to push for decarbonisation across all sectors.

Currently, EVs only make up three percent of all vehicles sold in the UAE, but In its Mobility Outlook report, PwC forecast that yearly EV sales could reach around 110,500 vehicles by 2035. The surge in market share is contingent on several factors such as an increased variety of EV model offerings, charging infrastructure investment, and the declining overall cost of EV ownership.

What’s more, the UAE benefits from being a ‘Wave II’ country for electric vehicle adoption, allowing it to skip much of the learning curve experienced by ‘Wave I’ markets such as China, Europe, and the US, and reach EV maturity much faster.

A broader selection of EVs is already making its way to UAE dealerships, where electric vehicles already make up seven percent of cars offered - in Europe, the figure now stands at 26 percent. In March, three of the newest EV models from Chinese manufacturer BYD came to the UAE market, offering three distinct price points catering to an ever wider consumer base.

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