Saudi Arabia is leading the growth of the electric car market

The automotive market in the Kingdom of Saudi Arabia is witnessing significant growth driven by economic diversification and a growing interest in sustainable transportation. While the automotive industry has historically relied on traditional gasoline-powered vehicles, recent trends indicate a shift towards the expansion of electric vehicles, which reflects the broader ambitions of the Kingdom’s Vision 2030 framework, according to what was reported. American newspaper The Pianical Gazette.

Accelerating the transition to electric vehicles

According to the Ministry of Industry and Mineral Resources, “The Saudi government is committed to accelerating the transition to electric vehicles, reflecting the goals of Vision 2030 for sustainable development and diversification of the economy.”
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This strategic shift not only aims to enhance environmental health but also aims to revitalize the economy by promoting local manufacturing and technology development.

High demand for electric cars

Demand for vehicles is rising sharply, as evidenced by the rapid growth of electric vehicles.
Experts expect this sector to reach unprecedented levels, as industry specialists such as Sarah Al Mansouri say: “We expect significant growth in the electric vehicle sector, driven by increasing consumer interest and supportive policies.”
Many local manufacturers are gearing up to meet this growing demand, by aligning their production strategies with government policies to promote domestic electric vehicle technologies as expanding charging infrastructure, coupled with incentives for consumers to switch to electric vehicles, reshapes the market.

Saudi investments in electric cars

The Kingdom seeks to attract international automobile companies, as industry analysts point to the strategic importance of announcing partnerships with international branded car groups to benefit from technological expertise. According to the Kingdom’s Vision 2030, the Kingdom seeks to manufacture and export more than 150,000 electric cars in 2026.
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The Saudi National Automotive Manufacturing Company’s “Snam” project is considered one of the first projects that aims to assemble and manufacture cars.
The value of the first phase of the project is 300 million riyals.

Sustainable growth within the Kingdom

Many experts agree that this development presents opportunities for sustainable growth within the Kingdom, and electric vehicles can become more than just environmentally sensitive alternatives. Rather, they can lay the foundation for economic sustainability in various sectors. Indeed, if this trend continues, the Saudi car market is well positioned to become… It is one of the leading centers for electric vehicles not only in the region but on the global stage and continued government support and investment will be pivotal to effectively transform this sector.

Industry’s contribution to the Saudi economy

In general, advanced industries are expected to contribute to more than one million job opportunities during the next five years, while contributing to raising the industrial sector’s contribution to the gross domestic product from 11% currently to 20%, increasing non-oil industrial exports by 50%, and improving the Kingdom’s global ranking in the Global Innovation Index. And reach the 30th rank.