Electric vehicles (EVs) are eco-friendly and boast fuel-efficient powertrain technologies as compared to the traditional combustion engine vehicles. A massive surge has been recorded in the demand for electric vehicles globally as 2 million EVs were sold last year, managing an incredible 60% increase from the sales figures of 2015. This increase is also significant because just over a decade ago in 2005 only a handful of electric vehicles were sold and expecting record sales of EVs in coming years was difficult, if not unlikely.
World’s Biggest Markets for Electric Vehicles in 2016
In 2016, a number of big countries with their established automotive share around the world witnessed an increase in the demand for electric vehicles. The growth in the demand for electric vehicles is actually the result of a rapid evolution of the global automotive market, where customers are now welcoming electric vehicles more rapidly than ever before. Such a paradigm shift was only made possible due the customers’ demand for lower carbon footprint and enhanced fuel efficiency.
The International Energy Agency (IEA) has revealed the global sales figures for electric vehicles in 2016. The graph below highlights the increased sales of EVs in different markets of the world.
Source: Guardian Graphic
The graph above clearly shows that China, USA and Europe were the biggest markets for electric vehicles in 2016 and China enjoyed the maximum growth in its automotive industry. According to IEA, the global sales of electric vehicles showed an increase of 60% from 2015 as the numbers jumped from 1 million to over 2 million in the span of one year.
Also read: New Incentive Program Encourages the Buying of Electric Vehicles in the UAE
Future of Electric Vehicles in the UAE
Even in a country like the UAE where traditional petrol and diesel engine cars rule the automotive market, the electric vehicles are slowly but steadily gaining popularity. The growth of electric car market in recent years is particularly encouraging for the UAE traffic authorities who have been keen to introduce initiatives for hybrid and electric vehicles in the country. The UAE’s aim to reduce its carbon footprint depends heavily on the increased number of eco-friendly vehicles on the roads as one of its emirate, Dubai, has the world’s highest resident to car ratio. In Dubai, for every 2 residents, there is 1 car.
Taking a look at the potential of EVs from fuel-economy perspective, in last one and a half year, fuel prices have fluctuated considerably in the UAE. These fluctuating fuel prices have made life difficult for motorists to manage fuel expenses of their traditional petrol and diesel engine vehicles. This has given an ideal opportunity to electric vehicle manufacturers to introduce their EVs in the UAE and offer a cost-efficient alternative to the combustion engine vehicles in terms of fuel economy. Tesla has recently launched its Model S and Model X in the UAE and the UAE Government has also signed multiple agreements with other giants of electric car industry, including Renault and BMW, for the launch of their EVs in the country. Tesla also plans to setup multiple charging stations for EVs around the country, which will certainly push the sales of their electric vehicles even further in the UAE.
People are now also looking to buy EVs as the Government of the UAE offers significant incentives to buy and own an electric vehicle. With all these positive developments, the future of electric vehicles looks brighter than ever before in the UAE.
Also read: 10 Things you did not know about Electrical Cars
Initiatives for Electric Car Buyers in the UAE
The UAE Government has introduced a number of initiatives for electric car buyers to push the sales of EVs. It is now confirmed that 5% VAT will be implemented on the purchase of all new cars in the UAE from 2018 and according to sources, the Government of the UAE might exempt the EVs from VAT. This will certainly be a huge incentive for people in the UAE to buy electric vehicles.
Listed below are the major incentives and benefits offered to electric car buyers in the UAE:
- Green Bank Loans for electric car buyers
- Green Insurance Plans
- Green Registration for electric vehicles
- Free Charging Stations for electric vehicles
- Free parking benefits for electric car owners
- White Points for motorists driving eco-friendly cars
- A possible exemption of EVs from VAT
All these incentives offer potential benefits for electric car buyers in the UAE. In 2016, 283 electric vehicles were sold in the UAE, which is not a massive number by any means, but it clearly indicates a steady acceptance towards electric vehicles amongst the UAE motorists. These figures are expected to increase in 2017 as the Government of the UAE is making its best efforts to build awareness about the importance and benefits of owning an electric vehicle in the UAE.
Also read: New Regulations Set for Electric Vehicles in the UAE
Best Electric Vehicles to Buy in the UAE
At the moment, an encouraging increase in the demand for electric vehicles can be observed in the UAE as different EVs have already made their presence felt in a highly competitive car market.
Listed below are the best electric vehicles to buy in the UAE:
- BMW i3
- Tesla Model S
- Tesla Model X
- VW e-Golf
- Kia Soul EV
- Ford Focus Electric
Also read: Top 5 Electric Cars to Buy this Summer in the UAE
All these EVs are promising in terms of their durable performance, range and advanced technological features. These EVs offer an ideal alternative to petrol and diesel engine vehicles that are less fuel-efficient and cause environmental hazards.
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