Two thirds of drivers in the UAE would consider electric car switch, survey finds


Nick Webster
  • English
  • Arabic

More than two thirds of motorists in the UAE and Saudi Arabia want to switch to electric vehicles (EVs), according to a new industry survey.

With more availability of charging points and improved technology adding to the range of vehicles, more drivers are considering changing up to an electric car.

That is good news for the environment and the ambitions of both the UAE and Saudi Arabia to reduce carbon emissions, according to General Motors that commissioned the survey.

The survey asked 500 people in the UAE and 1,000 in Saudi Arabia of their general awareness of the electric vehicle market, if they would consider buying one and why.

It is promising to see the rising positive sentiment towards EVs
Jack Uppal,
president and managing director of General Motors Africa & Middle East

Of the UAE respondents, 70 per cent said they were considering buying an electric car, while 63 per cent had the same ambition in Saudi Arabia.

Concept awareness of electric vehicles was above 90 per cent in both countries, while 73 per cent of drivers in the UAE were attracted towards a purchase due to long term affordability compared with 69 per cent in Saudi Arabia.

Combatting environmental concerns were the main reasons behind the desire to switch away from traditional petrol vehicles, as well as the rising costs of fuel.

“It is promising to see the rising positive sentiment towards EVs,” said Jack Uppal, president and managing director of General Motors Africa & Middle East in a press release.

He said that as the company progresses into the market and increases the variety of EV options, it will respond to the shift of consumer awareness brought on by the long-term benefits of ownership.

"We will deliver on our commitment to offer an electric vehicle for every wallet and every customer and driving this change towards a vision of future mobility across electrification, autonomy and connectivity," he said.

More than a third of UAE respondents (38 per cent) said they were aware of the location of at least one charging station, with 80 per cent saying there was a power point near where they parked their car at home or in a public place.

A similar number (40 per cent) were aware of a charging station nearby in Saudi Arabia, but fewer than one in five (17 per cent) said this was near to their home or work.

The study also looked at range anxiety among reasons why motorists may have shunned buying an electric car in the past.

Those in the UAE said the ideal range for an electric vehicle on a single charge was on average 325km, while in Saudi Arabia that lengthened to 360km.

The average range of an electric car sold in the US is around 300km, with improving technology likely to increase that further in the years ahead.

Both the UAE and Saudi Arabia have strong ambitions to improve charging infrastructure in the near future.

At the end of 2022, there were currently 620 charging points in Dubai, with Dubai Electricity and Water Authority aiming for 1,000 public charging stations in the emirate by 2025.

In Abu Dhabi, an expected 70,000 charging points are required by 2030 to meet growing EV demand with an investment of up to $200 million.

Meanwhile in Riyadh, it is hoped 30 per cent of all vehicles will be powered by electricity by 2030.

“Each market will understandably have a different approach and timeframe to infrastructure solutions to accommodate for the mass rollout of electric vehicles,” said Mr Uppal.

“We are firmly aligned with the regional leaders on a shared vision when it comes to an electrified future of mobility.”

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Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Nancy 9 (Hassa Beek)

Nancy Ajram

(In2Musica)

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The five pillars of Islam

1. Fasting 

2. Prayer 

3. Hajj 

4. Shahada 

5. Zakat 

The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

Illegal%20shipments%20intercepted%20in%20Gulf%20region
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Skoda Superb Specs

Engine: 2-litre TSI petrol

Power: 190hp

Torque: 320Nm

Price: From Dh147,000

Available: Now

Roll of honour

Who has won what so far in the West Asia Premiership season?

Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain

Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons

West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins

UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles

West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles

West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles

Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens

Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins

 

Company%20profile
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

WOMAN AND CHILD

Director: Saeed Roustaee

Starring: Parinaz Izadyar, Payman Maadi

Rating: 4/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

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While you're here
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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

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SPECS
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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Updated: June 12, 2023, 9:27 AM