The UAE electric vehicle (EV) market is experiencing significant growth driven by strong government support and increasing environmental awareness. Government initiatives such as incentives for EV buyers, zero registration fees, and enhanced charging infrastructure are encouraging adoption among consumers and manufacturers alike. The market is benefiting from the launch of new electric models, particularly in the compact SUV and sedan segments, backed by strategic partnerships and advancements in battery and smart technologies. However, challenges remain with the high upfront costs of EVs, which are offsetting some of the benefits of lower operating expenses. International automakers are actively introducing localized electric models, aligning with the UAE’s sustainability goals and contributing to the country’s vision as a hub for clean mobility.
In other trading, Guangzhou Automobile Group was a standout up 9.8% and ending the day at HK$3.46. Meanwhile, Compagnie Générale des Établissements Michelin Société en commandite par actions trailed, down 8.9% to end trading at €26.11, near its 52-week low.
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QuantumScape finished trading at $16.88 down 0.6%.
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Tesla finished trading at $429.24 down 1.5%.
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NIO finished trading at $6.80 down 5.3%.
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