The UAE’s EV Revolution: How Rising Fuel Prices Are Accelerating the Adoption of Electric Vehicles
Government Support and Growing Charging Infrastructure Drive EV Adoption. The UAE is Well-Positioned to Become a Leader in the EV Revolution
DUBAI, UAE, June 21, 2023 /24-7PressRelease/ — Rising fuel prices make a case for increased demand for electric vehicles (EVs) in the UAE. In recent years, gasoline prices have been steadily growing, and this trend is likely to continue. In 2022, the average cost of gasoline in the UAE was AED 3.2 per liter, equivalent to about $0.90 per gallon. This is significantly higher than the price of petrol in many other countries.
EVs are powered by electricity, a much cheaper fuel than gasoline. The cost of electricity to power an EV is about AED 0.1 per kilometre, equivalent to about $0.03 per mile. This means that EVs can save drivers a significant amount of money on fuel costs.
In addition to the cost savings, EVs also offer other benefits. They are cleaner than gasoline-powered vehicles, and they produce zero emissions. This makes them a good choice for people concerned about the environment. EVs are also quieter than gasoline-powered vehicles, which can make them a more pleasant driving experience.
The UAE government is taking steps to promote the use of EVs. In 2022, the government announced a plan to provide subsidies for EVs and build a network of charging stations nationwide. Electric vehicles are more inexpensive to repair and maintain than internal combustion engine (ICE) cars. The cost implications make an economic case for purchasing EVs. Owners of EVs enjoy tax-credit incentives, including exemption from Salik (road toll fees) and lower car service fees compared to traditional fuel-powered cars. The total cost of ownership of electric vehicles is lower than ICEs.These measures are expected to help to make EVs more affordable and accessible to consumers.
The adoption of EVs is a win-win for the UAE. It is suitable for the environment; it is good for the economy, and it is good for consumers. The future of transportation in the UAE is electric, a trend that will only continue in the years to come.
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