After several years of rapid expansion, electric vehicle sales growth faces several challenges, but the overall EV sector remains promising, particularly in the Middle East, a report found.
“The sector currently faces numerous headwinds, including high electricity costs, inflation and reduced subsidies as governments shift their funding focus from vehicles to charging facilities,” said the introduction of the 2024 EV Charging Index report from global consultancy Roland Berger.
In particular, 2023 saw an overall EV sales slowdown, the report said. “Nevertheless, it should only be a matter of time before EV growth rates recover,” it added, also noting that sales in Middle East and South-East Asia markets were “showing rapid growth".
The charging index and study, according to Roland Berger, was based on industry interviews, primary research and a survey of 16,000 participants in 2024. The report, initially released in July, noted that one of the main obstacles to widespread EV adoption has been the range anxiety in the minds of many consumers, prompted by a sometimes patchy charging infrastructure.
“It’s a bit of a chicken or the egg situation,” said Arvind CJ, a partner at Roland Berger’s Dubai office during an interview with The National’s Business Extra podcast. “Consumers always say, ‘OK, I need to see chargers before I buy a vehicle.’”
The Americas and China saw a slight decline in charging sufficiency infrastructure, but the Middle East, Europe and other parts of Asia saw significant improvements, the report found.
“Saudi Arabia led the way, improving its ratio from 10.4 to 1.0, while the UAE jumped from 7.6 to 4.3,” the report stated, noting that lower numbers denoted better sufficiency.
“It’s a similar story for the ratio of vehicles to public chargers, with Europe and the Middle East the only regions to record an improvement.”
According to another recently released EV report from PwC, the UAE has about 2,000 public charge points throughout the country, with demand projected to reach 45,000 by 2035.
Back in May, a the UAE Ministry of Energy and Infrastructure and Etihad Water and Electricity announced a joint venture, UAEV, a charging network fully owned and operated by the government. That initiative will come to fruition in the form of new fast-charging stations throughout the country, though it remains to be seen if charging stations will keep up with potential EV sales growth, a challenge faced in many parts of the world.
Despite the challenge, the Roland Berger report noted overall consumer optimism when it comes to finding EV charging locations.
“More than 80 per cent of respondents think public charging has become easier in the last six months, and all markets are moving toward faster charging,” the introduction of the report said, highlighting the perception from consumers that could eventually translate into more first-time EV buyers.
Hasan Nergiz, managing director of Al Futtaim Electric Mobility Company, a vehicle distributor subsidiary of Al Futtaim Group, reflected on how the increasing prevalence of chargers throughout the UAE has helped to bolster EV sales, along with climate related climate targets.
“It mitigates the customer pain points,” he said. “The direction is very clear, the mobility sector is moving into electrification, because if you look at the bigger picture, with Cop28 and net-zero carbon targets, it will happen,” he added, noting the methodical adoption of electric vehicles coupled with various climate related government policies.
Also bolstering long-term interest in EVs, according to both Mr Nergiz and Mr CJ, is the increase parity in terms of the total cost of ownership.
In recent years, the total cost of ownership for EVs has come down significantly, although in some countries insurance rates and tariffs mean that initial upfront costs remain higher.
“You can really slash your fuel consumption costs,” Mr Nergiz said, noting that there are still savings for those who live in countries where petrol is more economical than the global average. “Petrol may be cheaper here [UAE] than the rest of the world, but don't forget that also means electricity is also cheaper.”
Those potential cost savings, are proving to gain appeal throughout the world as more EV options become available from different companies, yet those positive sentiments are also going toe-to-toe with government tariffs in some parts of the world, as countries jockey for a competitive advantage.
Back in May, the US announced plans to raise tariffs on Chinese EVs, and just a few months later, the EU began executing tariffs on China for EV imports as well. Most recently, Canada moved a step further by announcing plans to impose 100 per cent tariffs on China-made EVs.
“It will impact a bit of the competitiveness in Europe and the US,” said Mr CJ, who cautioned that Chinese brands might also have manufacturing facilities outside of China which will not be affected by the tariffs.
Ultimately, Mr CJ said that he believes the EV tariffs won't have much staying power. “In the longer-run I think the tariffs will be taken away and there will be a proper competitive market around the world,” he added.
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
Two-step truce
The UN-brokered ceasefire deal for Hodeidah will be implemented in two stages, with the first to be completed before the New Year begins, according to the Arab Coalition supporting the Yemeni government.
By midnight on December 31, the Houthi rebels will have to withdraw from the ports of Hodeidah, Ras Issa and Al Saqef, coalition officials told The National.
The second stage will be the complete withdrawal of all pro-government forces and rebels from Hodeidah city, to be completed by midnight on January 7.
The process is to be overseen by a Redeployment Co-ordination Committee (RCC) comprising UN monitors and representatives of the government and the rebels.
The agreement also calls the deployment of UN-supervised neutral forces in the city and the establishment of humanitarian corridors to ensure distribution of aid across the country.
It Was Just an Accident
Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Related
QUALIFYING RESULTS
1. Max Verstappen, Netherlands, Red Bull Racing Honda, 1 minute, 35.246 seconds.
2. Valtteri Bottas, Finland, Mercedes, 1:35.271.
3. Lewis Hamilton, Great Britain, Mercedes, 1:35.332.
4. Lando Norris, Great Britain, McLaren Renault, 1:35.497.
5. Alexander Albon, Thailand, Red Bull Racing Honda, 1:35.571.
6. Carlos Sainz Jr, Spain, McLaren Renault, 1:35.815.
7. Daniil Kvyat, Russia, Scuderia Toro Rosso Honda, 1:35.963.
8. Lance Stroll, Canada, Racing Point BWT Mercedes, 1:36.046.
9. Charles Leclerc, Monaco, Ferrari, 1:36.065.
10. Pierre Gasly, France, Scuderia Toro Rosso Honda, 1:36.242.
Eliminated after second session
11. Esteban Ocon, France, Renault, 1:36.359.
12. Daniel Ricciardo, Australia, Renault, 1:36.406.
13. Sebastian Vettel, Germany, Ferrari, 1:36.631.
14. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:38.248.
Eliminated after first session
15. Antonio Giovinazzi, Italy, Alfa Romeo Racing Ferrari, 1:37.075.
16. Kimi Raikkonen, Finland, Alfa Romeo Racing Ferrari, 1:37.555.
17. Kevin Magnussen, Denmark, Haas Ferrari, 1:37.863.
18. George Russell, Great Britain, Williams Mercedes, 1:38.045.
19. Pietro Fittipaldi, Brazil, Haas Ferrari, 1:38.173.
20. Nicholas Latifi, Canada, Williams Mercedes, 1:38.443.
Miguel Cotto world titles:
WBO Light Welterweight champion - 2004-06
WBA Welterweight champion – 2006-08
WBO Welterweight champion – Feb 2009-Nov 2009
WBA Light Middleweight champion – 2010-12
WBC Middleweight champion – 2014-15
WBO Light Middleweight champion – Aug 2017-Dec 2017
THE BIO
Mr Al Qassimi is 37 and lives in Dubai
He is a keen drummer and loves gardening
His favourite way to unwind is spending time with his two children and cooking
if you go
The flights
Air Astana flies direct from Dubai to Almaty from Dh2,440 per person return, and to Astana (via Almaty) from Dh2,930 return, both including taxes.
The hotels
Rooms at the Ritz-Carlton Almaty cost from Dh1,944 per night including taxes; and in Astana the new Ritz-Carlton Astana (www.marriott) costs from Dh1,325; alternatively, the new St Regis Astana costs from Dh1,458 per night including taxes.
When to visit
March-May and September-November
Visas
Citizens of many countries, including the UAE do not need a visa to enter Kazakhstan for up to 30 days. Contact the nearest Kazakhstan embassy or consulate.
Results:
5pm: Abu Dhabi Fillies Classic (PA) Prestige Dh 110,000 1.400m | Winner: AF Mouthirah, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Abu Dhabi Colts Classic (PA) Prestige Dh 110,000 1,400m | Winner: AF Saab, Antonio Fresu, Ernst Oertel
6pm: Maiden (PA) Dh 80,000 1,600m | Winner: Majd Al Gharbia, Saif Al Balushi, Ridha ben Attia
6.30pm: Abu Dhabi Championship (PA) Listed Dh 180,000 1,600m | Winner: RB Money To Burn, Pat Cosgrave, Eric Lemartinel
7pm: Wathba Stallions Cup (PA) Handicap Dh 70,000 2,200m | Winner: AF Kafu, Tadhg O’Shea, Ernst Oertel
7.30pm: Handicap (PA) Dh 100,000 2,400m | Winner: Brass Ring, Fabrice Veron, Ismail Mohammed
Engine: 3.5-litre V6
Transmission: eight-speed automatic
Power: 290hp
Torque: 340Nm
Price: Dh155,800
On sale: now
If you go
The flights
Return flights from Dubai to Santiago, via Sao Paolo cost from Dh5,295 with Emirates.
The trip
A five-day trip (not including two days of flight travel) was split between Santiago and in Puerto Varas, with more time spent in the later where excursions were organised by TurisTour.
When to go
The summer months, from December to February are best though there is beauty in each season
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Kandahar%20
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The specs
Engine: 1.5-litre, 4-cylinder turbo
Transmission: CVT
Power: 170bhp
Torque: 220Nm
Price: Dh98,900
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
More coverage from the Future Forum
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%3Cp%3EHigh%20fever%20(40%C2%B0C%2F104%C2%B0F)%3Cbr%3ESevere%20headache%3Cbr%3EPain%20behind%20the%20eyes%3Cbr%3EMuscle%20and%20joint%20pains%3Cbr%3ENausea%3Cbr%3EVomiting%3Cbr%3ESwollen%20glands%3Cbr%3ERash%26nbsp%3B%3C%2Fp%3E%0A
Drishyam 2
Directed by: Jeethu Joseph
Starring: Mohanlal, Meena, Ansiba, Murali Gopy
Rating: 4 stars
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
The Florida Project
Director: Sean Baker
Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe
Four stars
Sholto Byrnes on Myanmar politics
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
War
Director: Siddharth Anand
Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor
Rating: Two out of five stars
