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Electric vehicle manufacturing competition revving up in Middle East

2023 is expected to be a big year for electric vehicle production in the Middle East. Here's what to expect. (access with free trial)

A picture taken on July 14, 2022, ahead of a visit by the United States' president to Saudi Arabia, shows hostesses in a car manufactured by US electric vehicle maker Lucid Group at the KSA Green Transition Journey exhibition in the Red Sea port of Jeddah. - A exhibiton offered a presentation on the Saudi Green Initiative, which also includes goals for tree-planting and reducing emissions. (Photo by Amer HILABI / AFP) (Photo by AMER HILABI/AFP via Getty Images)
To:

Al-Monitor Pro Members

From:

Samuel Wendel

Senior Market Research Analyst, Al-Monitor

 

Date:

Jan. 13, 2023

Bottom Line:

2023 is expected to be a big year for the production of electric vehicles, or EVs. A wave of new electrified models are rolling out globally, delivered by storied automakers and startups alike, which comes as consumers and governments continue embracing the transition away from gas-powered vehicles. Industry activity is ramping up in MENA too, evidenced by Saudi Arabia recently launching Ceer, a new EV brand backed by the kingdom’s powerful wealth fund. Simultaneously, MENA produced a range of new EV ventures and developments in 2022, notably in the UAE and Turkey. With the UAE hosting COP28 in December, that trend could accelerate in 2023 and see regional players separate themselves from the pack.