The UAE’s electric car market experienced significant sales growth over the past year as new companies entered the competitive landscape and successfully secured their positions. Most notable among these is BYD, which achieved global prominence and is now competing locally with the American giant, Tesla.
According to data from the “Focus2Move” website, electric car sales in the UAE rose by a record of 260% last year, marking the fifth consecutive year of growth for new vehicle sales.
Electric vehicles accounted for 8% of the overall market, equivalent to 21,910 cars sold.
Several factors contributed to this significant surge in electric car sales in the UAE. Most prominently, the government and private sector intensified their efforts to foster sustainable development and reduce carbon emissions.
With increasing environmental awareness and rising traditional fuel prices, consumers have increasingly shifted toward electric cars, significantly boosting sales.
Additionally, policies such as tax exemptions, improved charging infrastructure, and the introduction of new models by companies like Tesla, BYD, Lucid, and Polestar significantly boosted sales.
Further, the development of infrastructure and initiatives such as Dubai’s Smart Mobility, collaborations between entities like DEWA and Bee’ah to establish fast-charging stations, and a 10% drop in lithium battery costs compared to 2023 have also contributed to lowering electric vehicle prices.
Source: Albayan Newspaper