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.
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
MATCH INFO
Manchester City 0
Wolves 2 (Traore 80', 90 4')
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
The specs: 2018 Mercedes-Benz GLA
Price, base / as tested Dh150,900 / Dh173,600
Engine 2.0L inline four-cylinder
Transmission Seven-speed automatic
Power 211hp @ 5,500rpm
Torque 350Nm @ 1,200rpm
Fuel economy, combined 6.4L / 100km
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Astra%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMarch%202022%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAbdallah%20Abu%20Sheikh%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20technology%20investment%20and%20development%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%24500m%3C%2Fp%3E%0A
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
Race card
1.30pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m
2pm: Handicap (TB) Dh 84,000 (D) 1,400m
2.30pm: Maiden (TB) Dh 60,000 (D) 1,200m
3pm: Conditions (TB) Dh 100,000 (D) 1.950m
3.30pm: Handicap (TB) Dh 76,000 (D) 1,800m
4pm: Maiden (TB) Dh 60,000 (D) 1,600m
4.30pm: Handicap (TB) Dh 68,000 (D) 1,000m
A Dog's Journey
Directed by: Gail Mancuso
Starring: Dennis Quaid, Josh Gad, Marg Helgenberger, Betty Gilpin, Kathryn Prescott
3 out of 5 stars
MATCH INFO
Europa League final
Marseille 0
Atletico Madrid 3
Greizmann (21', 49'), Gabi (89')
SPEC SHEET
Display: 6.8" edge quad-HD dynamic Amoled 2X, Infinity-O, 3088 x 1440, 500ppi, HDR10 , 120Hz
Processor: 4nm Snapdragon 8 Gen 1/Exynos 2200, 8-core
Memory: 8/12GB RAM
Storage: 128/256/512GB/1TB
Platform: Android 12
Main camera: quad 12MP ultra-wide f/2.2, 108MP wide f/1.8, 10MP telephoto f/4.9, 10MP telephoto 2.4; Space Zoom up to 100x, auto HDR, expert RAW
Video: 8K@24fps, 4K@60fps, full-HD@60fps, HD@30fps, super slo-mo@960fps
Front camera: 40MP f/2.2
Battery: 5000mAh, fast wireless charging 2.0 Wireless PowerShare
Connectivity: 5G, Wi-Fi, Bluetooth 5.2, NFC
I/O: USB-C
SIM: single nano, or nano and SIM, nano and nano, eSIM/nano and nano
Colours: burgundy, green, phantom black, phantom white, graphite, sky blue, red
Price: Dh4,699 for 128GB, Dh5,099 for 256GB, Dh5,499 for 512GB; 1TB unavailable in the UAE
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
FIXTURES
Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)
Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)
Friday, February 1
Final, Zayed Sports City Stadium (6pm)
Crime%20Wave
%3Cp%3EHeavyweight%20boxer%20Fury%20revealed%20on%20Sunday%20his%20cousin%20had%20been%20%E2%80%9Cstabbed%20in%20the%20neck%E2%80%9D%20and%20called%20on%20the%20courts%20to%20address%20the%20wave%20of%20more%20sentencing%20of%20offenders.%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3ERico%20Burton%2C%2031%2C%20was%20found%20with%20stab%20wounds%20at%20around%203am%20on%20Sunday%20in%20Goose%20Green%2C%20Altrincham%20and%20subsequently%20died%20of%20his%20injuries.%3C%2Fp%3E%0A%3Cp%3E%26nbsp%3B%E2%80%9CMy%20cousin%20was%20murdered%20last%20night%2C%20stabbed%20in%20the%20neck%20this%20is%20becoming%20ridiculous%20%E2%80%A6%20idiots%20carry%20knives.%20This%20needs%20to%20stop%2C%E2%80%9D%0D%20Fury%20said.%20%E2%80%9CAsap%2C%20UK%20government%20needs%20to%20bring%20higher%20sentencing%20for%20knife%20crime%2C%20it%E2%80%99s%20a%20pandemic%20%26amp%3B%20you%20don%E2%80%99t%20know%20how%20bad%20it%20is%20until%20%5Bit%E2%80%99s%5D%201%20of%20your%20own!%3C%2Fp%3E%0A
Abu Dhabi GP weekend schedule
Friday
First practice, 1pm
Second practice, 5pm
Saturday
Final practice, 2pm
Qualifying, 5pm
Sunday
Etihad Airways Abu Dhabi Grand Prix (55 laps), 5.10pm
UAE currency: the story behind the money in your pockets
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
The specs: 2019 Mercedes-Benz GLE
Price, base / as tested Dh274,000 (estimate)
Engine 3.0-litre inline six-cylinder
Gearbox Nine-speed automatic
Power 245hp @ 4,200rpm
Torque 500Nm @ 1,600rpm
Fuel economy, combined 6.4L / 100km
