UAE: revenue of electric vehicle sales 2028

As of 2023, electric vehicle sales revenue in the United Arab Emirates reached approximately 250 million U.S. dollars. Apart from 2018 and 2019, revenue from electric vehicle sales has continued to increase from 2016. This trend is forecast to sustain itself for at least the next five years, crossing 370 million U.S. dollars in 2028.

 UAE’s push for sustainability

The promotion of electric vehicles is part of a wider series of measures that the UAE has taken to promote sustainability and green energy in recent years. These policies not only have a positive environmental impact but are also part of an effort to diversify and future-proof the economy. In 2022, the effect of various regulations on the total electricity saved through Dubai's Demand Side Management (DSM) strategy was noticeable. The country ranked one of the highest in renewable energy finance and investment scores in the Middle East and Africa in 2018, at 94 percent.

 Electric vehicle market in the UAE 

The UAE has a mature electric vehicle market with offerings from European, South Korean, and American manufacturers. Sales figures of electric vehicles in the UAE in 2022 show that Tesla makes up the country's biggest share of electric vehicles sold. The volume of electric vehicle sales in the UAE has seen an overall increase since 2016, when only 320 vehicles were sold. In 2022, the number of registered electric vehicles in the Emirate of Dubai alone had surpassed 15,000. Electric vehicles have carved out a market share for themselves in the UAE, and it is expected to continue expanding.

Revenue of electric vehicle sales in the United Arab Emirates from 2016 to 2028 (in million U.S. dollars)

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Release date

December 2023

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Region

United Arab Emirates

Survey time period

2016 to 2028

Supplementary notes

Data provided by Statista Market Insights are estimates.

CO2 emissions have a serious impact on the climate and the environment. They contribute to the greenhouse effect, which causes climate change. Traffic is responsible for nearly one quarter of all CO2 emissions worldwide. Electric vehicles (EVs) could decelerate climate change because they have the potential of being completely carbon-neutral if their batteries and the electricity to power them are produced using renewable energies.

The Electric Vehicles segment includes information about electric vehicles in countries where, according to our sources, a public electric vehicle charging infrastructure is already available. In this context, “public” means that people have unrestricted access to the charging infrastructure. A vehicle can be defined as electric if it is self-contained with a battery or classified as a plug-in hybrid. All key figures shown represent the sales of new cars, and their basic configuration in the respective year. The figures do not include the sale of used vehicles nor adapted equipment for the new cars sold. The prices and revenues shown are accordingly based on the basic models.

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