EV stands for Electric Vehicles. The rising trend of the automobile industry in Saudi Arabia. The Saudi Arabia government is greatly expanding their Electric Vehicle market as Electric Vehicles (EVs) are used as an important factor in achieving the Saudi Vision 2030. Therefore, investing $1.61 billion for EV infrastructure.
In this guide we will tell you everything to keep in mind before buying an EV:
1-Ownership Cost
After the initial purchase of the car the maintenance cost is low as electricity is much cheaper than gasoline.
2-Location/Environment
The extreme high temperatures of Saudi Arabia require constant air conditioning which uses a lot of battery power. This results in the battery wearing down quickly and lowering the performance of EVs. This can reduce driving range by as much as 22-32%.
3-Climate Condition
In Saudi Arabia, the energy sector is presently the most significant contributor to carbon emissions, followed by the transportation sector, which contributes about 26% of the gross greenhouse gas emissions. The adoption of electric vehicles (EVs) in the transportation sector worldwide is one way to bring about a global green solution that can support the decarbonisation of the environment.
4-Government Incentives
The government has introduced and is exploring several financial incentives — including VAT exemptions on new EV purchases, subsidized charging rates, and potential grants to support home charger installations.
Along with tax relief policies for registration fees.
5-Resale
Typically EVs resell at a lower cost compared to traditional cars due to battery degeneration.
Though strong brands hold a better bargain.
Overall EVs are the future and suitable for all.Be it the buyer, the environment or the government.
