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UAE’s EV future shaping up: EV Lab is revving the market

From economy to luxury, up to high-performance EVs, electric mobility is changing the face of urban transport in the UAE

The global volume of EV charging sessions will exceed 1.5 billion per annum in 2026 The UAE electric vehicle market is expected to grow at a CAGR of 32.1% from 2019-2025 General Motors recently announced 13 new EVs will be launched in the Middle East by 2025

From economy to luxury, up to high-performance EVs, electric mobility is changing the face of urban transport in the UAE. We also take a look at a hypercar EV Lab introduced via an exclusive interview with Kevin Chalhoub, founder and CEO.

EV charging growth

Juniper Research found the global volume of EV charging sessions, where an EV’s battery is charged using a charging point, will exceed 1.5 billion per annum in 2026, from just 200 million in 2021.

This remarkable growth rate of more than 665% over the next five years will be driven by greater government incentives for electric vehicles, as well as more widespread charging service availability.

The new research found that home charging will account for over 70% of all EV charging sessions in 2026, compared with just over 80% in 2021.  

An interview with EV Lab

EV Lab, an omnichannel, multi-brand electric vehicle platform, recently announced a new frontier in its partnership with Croatian-based electric hyper manufacturer, Rimac Automobili.

The Nevera is powered by a quad-motor drivetrain, where each motor powers one wheel individually. Combined the wheels produce 1,914 horsepower, which is enough to accelerate the car from 0-60 miles per hour (96km/hr) in just 1.85 seconds. In addition, the Rimac Nevera has set a new world record for production car acceleration, covering the quarter-mile in just 8.582 seconds.

Kevin Chalhoub, Founder & CEO at EV Lab, said: “Rimac debuts their new flagship hypercar in the Middle East as the region’s first immersive platform that encourages people to embrace future mobility solutions that are sustainable and clean.”  

To find out more, AMEinfo asked Kevin Chalhoub, Founder & CEO of EV Lab, the following:

What are your realistic expectations for EV/Hybrid adoption in the UAE?  

The UAE electric vehicle (EV) market is expected to grow at a CAGR of 32.1% from 2019-2025. This is further substantiated by the fact that over 29% of UAE residents would consider buying an electric car. While lack of power stations and high prices were true a few years back, today – there are over 750 chargers across the UAE, and they range from superfast to regular chargers (both AC & DC). EVs have been priced more moderately now with the MG ZS EV for example starting at 120,000 dirhams and the global shift towards electric mobility will only make it go lower in the coming time.

High performance vs economy EVs: Which has more pull in the region and why?

Currently, high-performance EVs have more pull in the market – EVs like the BMW iX, Audi E-Tron GT, and Mercedes EQS pull the right chord between sustainability, style, and performance. Although they are priced at the higher end of the spectrum, their core customers are looking for sustainability but not at the cost of losing the luxury element and brand value of the car. Economy EVs by MG and Renault are slowly transitioning into the market for affordable style and sustainability.

Rimac Nevera

What technical issues are recurring with EV manufacturers globally?

An automotive chip shortage has led to a reduction in production for EV manufacturers companies across the globe. This is largely due to the constraints on the supply chain caused by the COVID-19 pandemic, which resulted in 6 months delay in delivery for many EV brands, namely Tesla. The global semiconductor shortage is another cause for concern for governments across the globe.

GM’s multiple Middle East EV releases

General Motors recently announced 13 new EVs will be launched in the Middle East by 2025, spearheaded by the Chevrolet Bolt EUV, GMC HUMMER EV, and Cadillac LYRIQ.

GM’s EV leadership is driven by a modular propulsion system and a highly flexible, third-generation global EV platform powered by Ultium batteries capable of 0 to 100km/h acceleration in approximately 3 seconds, along with a driving range of more than 600 kilometers on a single charge, depending on the vehicle.

Chevy Bolt EUV

Ultium has already reduced battery costs by 40% and as EV adoption rates and production increase, costs will continue to come down.

Earlier this year, GM announced plans to invest $35 billion through 2025 in electric and autonomous vehicles and will launch more than 30 new EVs globally. The automaker is projecting global EV revenue to grow from around $10 bn in 2023 to approximately $90 bn annually by 2030.

GM also announced OnStar will officially launch in the UAE on December 2nd, 2021.  OnStar, projected to generate $2 bn in annual revenue globally, is an in-vehicle safety and security technology that provides customers with a suite of connected services. 

Hummer EV

OnStar gives customers peace of mind that no matter what the situation, they can press the red button and get support from an OnStar Advisor 24/7, 365 days a year.

The UAE will also be the first market outside North America to deploy Cruise Origin. A fleet of Cruise Origin autonomous vehicles will begin operation in Dubai from 2023, in partnership with Dubai’s Road and Transport Authority (RTA), with the potential to scale up to 4,000 vehicles by 2030.

Caddilac Lyriq

The Chevrolet Bolt EUV will launch in the Middle East in January 2022. 

The GMC HUMMER EV will launch in the Middle East in Q4 2022. 

The Cadillac LYRIQ will launch in the Middle East in mid-2023.