Sal Jafar, CEO of ESG Mena and Wade Crowfoot, Secretary of California’s Natural Resources Agency, discuss the State’s bold move to mandate electric vehicle (EV) production.
According to the latest Gartner forecasts, 85 million electric vehicles (EVs) will be on the roads by the end of 2025.
The technological research and consulting firm projects that the number of EVs in use globally will total 64 million units in 2024 and increase 33 per cent in 2025.
This projection comes despite strong industry headwinds this year and launch delays.
“Many companies overestimated how quickly the switch to EVs would occur. This caused those companies to delay launching new EV models,” said Jonathan Davenport, Sr Director Analyst at Gartner.
According to Davenport, the 2024 growth will be driven primarily by higher EV sales in China (58 per cent) and Europe (24 per cent), which together are projected to represent 82 per cent of total EVs in use worldwide.
Indeed, by 2025, Gartner estimates that 49 million EVs will be on the road in China, compared to 20.6 million EVs in Europe and 10.4 million EVs in North America.
Globally, in-use battery electric vehicles (BEVs) are forecast to total almost 62 million units by the end of 2025, an increase of 35 per cent from 2024.
Plug-in hybrid electric vehicles (PHEVs), meanwhile, will grow at a slightly slower rate, reaching an installed base of 23 million units in 2025, up 28 per cent from 2024.
Alongside these forecasts, tech analysts note that the shortage of raw materials will “not be easy to resolve.” As such, Gartner forecasts that by 2030, automakers will enable the recycling of 95% of batteries from EVs to mitigate raw material shortage risks.
“A robust recycling effort to take advantage of materials in spent batteries and scrap from the manufacturing production process, which, together with EU efforts to mandate battery recycling, could reduce the need for more mineral excavation,” said Davenport.
Adding: “Because concentrations of rare metals in batteries are higher than in natural ores, spent batteries can be seen as highly enriched ore. If recovered at large scale, the spent batteries could support the overall commercial viability of EVs by bringing battery prices down.”
Davenport noted that there would be the additional benefit of batteries not ending up being disposed of in unethical manners or put into landfill sites.
Regionally, recent research from Bain & Company said the Middle East EV market could reach $54 billion by 2035, by which point, EVs could represent nearly two-thirds of new car sales.
However, a key lever to realising this potential is favourable regional policies, the management consulting firm said.
It notes that for many countries in the region, EV penetration of new car sales is below 1 per cent. The UAE leads the region at 3 per cent. By 2050, the country aims to have EVs account for half of all cars on the road.
Smart electric vehicle (EV) company NIO has announced a partnership with Abu Dhabi-based investor CYVN Holdings to launch NIO MENA.
The joint venture (JV), supported by strategic investments from CYVN Holdings, will introduce NIO’s vehicle models and those from its subsidiary brands to the MENA market, marking the company’s entry into the region.
William Li, Founder, Chairman, and CEO of NIO, called the CYVN Holdings collaboration a “cornerstone” in its strategy to enhance global accessibility to smart EVs and advance technological innovation.
In addition to market entry, NIO and CYVN Holdings reportedly plan to establish a research and development (R&D) centre in Abu Dhabi focused on autonomous driving and artificial intelligence advancements.
NIO currently has R&D and manufacturing facilities in Shanghai, Hefei, Beijing, Nanjing, Shenzhen, Hangzhou, San Jose, Munich, Oxford, Berlin, Budapest, and Singapore.
According to a statement this week, the two will also collaborate on an EV project involving research, manufacturing, and future product launches.
Through this initiative, NIO MENA will work with local partners in Egypt, it was shared this week.
PlusX Electric, a new entrant in the electric vehicle (EV) charging market, has announced its official launch in the UAE.
In a statement this week, the company said that it aims to bridge the current gap in public charging infrastructure and supplement future growth by providing “an immediate and large-scale, convenient” charging service.
PlusX Electric produces what it calls the “world’s first-of-its-kind Portable Charging Pod” and shared that it has 31 pods currently available, with plans to expand its fleet of Portable Charging Pods to over 150 by the end of this year.
Phase one of PlusX Electric’s roll-out will begin in the Dubai International Financial Centre (DIFC), with plans to cover the whole of Dubai by the end of 2024.
“Our innovative charging solutions not only make EV ownership more convenient but also support the UAE’s vision for a greener, more sustainable future,” said Chintan Sareen, Founder & CEO of PlusX Electric.
Adding: “We aim to remove the barriers that prevent more people from embracing electric vehicles. As a homegrown brand, PlusX Electric takes pride in its Dubai-grown research, development, and assembly center, underscoring its commitment to local innovation and economic growth. There is so much opportunity for a service like ours in the market and we are looking forward to growing with and satiating demand.”
Newrizon, a Chinese commercial electric truck maker and charging solutions company, Savvy Charging Technologies, have announced a partnership.
According to Huang Chendong, CEO of Newrizon, the partnership is aimed at expediting the shift toward sustainability in the region.
“Collaborating with Savvy Charging Technologies represents a major step forward in our goal to promote EV adoption and electrification within the commercial sector,” said Huang.
The EV startup, founded back in 2020, develops electric commercial vehicles and battery swap solutions.
“Teaming up with Newrizon allows us to integrate their cutting-edge vehicles into our charging services, providing a comprehensive, hassle-free mobile charging solution for businesses that need ultra-fast charging without upfront hardware costs,” said Muhammad Jamal, CEO of Savvy Charging Technologies.
The tech startup, based in the UAE, specialises in off-grid, on-demand charging solutions.
“We are dedicated to supporting the UAE’s vision to reduce carbon emissions, and there is no better sector than commercial enterprises to drive the transition to green mobility,” added Jamal.
Last month, the charging solutions company also signed a partnership agreement with Al Ghurair Motors to provide its network of enterprise fleet clients with charging options.
UAE automotive dealership Al Tayer Motors has signed an agreement to distribute the Electric Vehicle (EV) brand DEEPAL and establish a network of sales and service facilities.
An inaugural showroom will open by Q1 2025, it said.
“It is a significant milestone for us as we sign the futuristic DEEPAL brand. Their innovative approach to creating world-class EVs with impressive, advanced technology makes this an exciting event for UAE customers,” commented Ashok Khanna, Chief Executive Officer of Al Tayer Motors.
According to the dealership, the new brand cooperation is part of Al Tayer Motors’ diversification of its product portfolio.
The UAE, more broadly, plans to have EVs account for 50 per cent of vehicles on the road by 2050.
Earlier this year, a PwC mobility outlook report forecast that by 2035, EVs could account for 25 per cent of all new passenger cars and light commercial vehicle sales in the UAE.
US-based Loop Global Inc., a turnkey provider of EV charging solutions, launched its regional office in Abu Dhabi this week.
According to Loop CEO Olga Shevorenkova, the overarching aim of the EV charging company is to establish itself as the UAE’s “number one EV charging provider.
Shevorenkova outlined that the company will use Abu Dhabi as a base for its regional expansion.
This launch follows the UAE government’s announcement earlier this year that it plans to install 100 new EV chargers in 2024 and reach 1,000 stations by 2030.
In Abu Dhabi, specifically, around 70,000 charging points for EVs are expected to be required by 2030 in various locations, including across retail spaces, government offices, and petrol stations.
Reem Mall is among the first locations in Abu Dhabi to install Loop charging stations, the company said.
“The company established its regional HQ in Abu Dhabi in response to growing local and regional market demand for EV technologies,” said Zack Martin, President and Co-Founder of the EV charging company.
“The UAE’s leadership has demonstrated its determination to lead the world’s clean-energy transition and has been exceptionally far-sighted in pursuit of its sustainability goals and the push to net-zero emissions,” Martin added.
Huawei and Kawar Energy have formed a strategic collaboration to install Huawei’s superchargers at Manaseer gas stations across Jordan.
Spanning two years, the MoU also outlines future plans for both companies to explore additional business opportunities beyond gas stations.
Eng. Firas Alkhatib, CEO of Kawar Energy, called the partnership a “significant step forward for the energy sector in Jordan.”
“We are confident that this partnership will play a pivotal role in advancing the country’s EV infrastructure,” added Alkhatib.
Indeed, this comes in response to an uptick in demand, with EV sales on the rise in recent years, and the country coming out on top for the highest share of EV sales in the Middle East in 2023.
Zhang Shizhe, General Manager of Huawei Jordan, said that the superchargers partnership will help accelerate the adoption of electric vehicles across the Kingdom.
“Huawei’s commitment to cutting-edge ICT technology, combined with their innovative solutions in smart renewable energy and digitalization, ensures we are equipped to meet the evolving energy needs of Jordan efficiently and sustainably,” said Alkhatib.
Gaussion, a University College London (UCL) spinoff, has raised $12 million for its fast-charging battery tech.
The company’s solution enhances battery performance using an external magnetic field during charge and discharge cycles to enable “rapid charging” by steering ions within existing battery cells.
The magnetic field also lowers cell degradation, extending battery life, Gaussion said.
The company’s technology has reportedly been demonstrated on commercial Li-ion cells to accelerate charging by up to 67 per cent. .
“In many applications, we are observing that efforts to rapidly electrify are delayed or blocked due to the cost of raising the ceiling of battery performance,” said Tom Heenan, Gaussion CEO and Co-Founder.
Magnetic enhancement, Heenan said, could provide “step-change improvements” across all chemistries, formats and applications, “affordably” unlocking electrification “without compromising on cost or performance.”
The Series A round was led by Autotech Ventures and supported by existing investors BGF and UCL Technology Fund, managed by AlbionVC in collaboration with UCL Business.
Gaussion said the capital would enable its market entry, which includes producing and selling its products and potentially licensing its technology for other applications.
“Gaussion’s approach aims to expand the solution space by introducing a new variable, rather than displacing or replacing existing technologies,” said Alexei Andreev, co-founder and managing director of Autotech Ventures. “They leverage the advancements of current battery cell giants and apply an external magnetic field to enhance the performance of established battery technologies without changing their core components. We see tremendous opportunities in a variety of markets.”
According to Gaussion, which has a global portfolio of patents and patent applications, the tech has a wide range of applications, including transportation electrification, construction equipment, mining operations, residential energy storage, and utility-scale energy storage for load and phase balancing.
David Grimm, Partner UCL Technology Fund, commented: “Slow charging speed and battery degradation are currently limiting the wide-scale adoption of electric vehicles and the broader energy transition.
“Dr. Tom Heenan and Dr. Chun Tan, co-founders of Gaussion, have managed to solve this problem by building an innovative solution from their university labs into a scaling company. Gaussion’s commercial application taps into a huge market need and we look forward to continuing to support them on their journey.”
Riyadh Air has announced the launch of a fleet of electric coaches for employee transport.
The fleet has launched in partnership with National Transportation Solutions Company, “NTSC,” a division of the Petromin Corporation and TAM-Europe.
Tony Douglas, CEO of Riyadh Air, commented: “Investing in electric coaches is just one early initiative we can introduce to offset our environmental footprint as we demonstrate we will be a leader in helping achieve the aviation industry’s global net-zero agenda.”
According to International Energy Agency (IEA) analysis, EV car sales saw a 35 per cent year-on-year increase last year, with one in five cars sold being electric.
Kalyana Sivagnanam, the Group CEO of Petromin Corporation, added: “We are proud to have this partnership for sustainable mobility with Riyadh Air and contribute to their efforts to reach sustainability goals. This is a remarkable airline with environmental responsibility embedded in their DNA.”
Aviation is one of the most carbon-intensive forms of transportation and accounts for between 2.5-3 per cent of emissions. The industry has also witnessed a faster growth rate in recent decades than rail, road, or shipping, and, if left unmitigated, some estimates forecast emissions rising to 22 per cent by 2050.
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