Today's Edition
AMEINAH ALZEYOUDI (ABU DHABI)
The Middle East's electric vehicle (EV) market is growing, with rapid adoption of EVs seen across the region, said Heiko Seitz, Global eMobility Leader at PwC, during a presentation.
Spotlighting the UAE and Saudi Arabia as frontrunners in the Middle East's EV adoption, he attributed the industry's growth to forward-thinking government policies, increasing environmental awareness, and technological advancements, Seitz highlighted noteworthy trends in the industry, such as substantial investments in charging infrastructure, strategic partnerships between governments and private enterprises, and the introduction of new EV models designed specifically for the regional market.
The session also addressed several challenges hindering the EV market's growth, including the high cost of EVs, limited charging infrastructure, and consumer skepticism. However, according to Seitz, there are still considerable opportunities for growth within the region.
Key opportunities involve the integration of renewable energy with EVs, advancements in battery technology, and the potential for the Middle East to emerge as a hub for EV manufacturing and export.
Seitz proposed several strategic measures for stakeholders to leverage market trends and position themselves successfully in the Middle East's dynamic EV landscape, and emphasised the importance of forming strategic alliances, investing in local manufacturing, and customising products to suit local needs.
Stakeholders were also encouraged to capitalise on trends such as digital transformation in mobility, smart city initiatives, and the integration of renewable energy with EVs.
