The number of passenger electric vehicles is set to triple over the coming decade.Subsidies, tax incentives and micromobility EVs are supporting uptake.Join Our Community
The number of passenger EVs on the road is expected to triple globally in the next decade to over 77m, according to BloombergNEF.Although China currently dominates EV manufacturing, accounting for 57% of global output in 2021, several emerging markets – especially in MENA – have announced plans to jump-start domestic production.
Meanwhile, Brightskies, an Egyptian company specialising in EVs and power systems, signed an agreement with NASCO and the Engineering Automotive Manufacturing Company in February 2021 to produce the country’s first electric buses, localising and manufacturing the technological components in Egypt. Already the region’s top auto-manufacturing centre, Thailand has implemented policies to bring in EV manufacturers and boost output, including a cash subsidy for passenger EVs and a planned subsidy for batteries.As OBG reported in April 2022,
Launched by Drive Electric, a global philanthropic campaign supporting transport solutions powered by clean energy, the Leapfrogging to E-mobility Acceleration Partnership has committed $1m in grants to 10 projects to boost EV adoption in emerging markets, with the target to eventually raise $1bn for the cause.