Saudi nationals are showing a strong interest for electric vehicle ownership after the announcement of the Saudi Green Initiative earlier this year, with 15 percent saying they would consider it within the next three years, according to a survey by Kearney.
Kearney said electric or hybrid vehicle ownership accounted for less than three percent of vehicle sales in 2020, but there was now a ‘strong appetite’ for owning the vehicles in Saudi Arabia.
The survey showed that key factors that would encourage a shift to electric vehicle (EV) ownership include running costs, cited by 23 percent, fee exceptions by the government, 23 percent, and increased availability of charging stations 33 percent.
It was announced last month, that the kingdom plans to have 30 percent electric vehicles on the roads of Riyadh by 2030.
Kearney’s survey showed that while the large majority, 80 percent of Saudi nationals, own at least one petrol fueled car, 28 percent believe that electric vehicles will become increasingly common in future.
(Reporting by Imogen Lillywhite; editing by Seban Scaria)
Imogen.lillywhite@refinitiv.com
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
