Qatar rapidly advancing transition to e-mobility among MENA countries: PwC report
DOHA: Qatar is rapidly advancing its transition to electric mobility, aligning with its Qatar National Vision 2030 and the 3rd National Development Strategy (NDS3), which emphasizes on sustainability, economic diversification and a technology-driven growth and the plans tailored and carried out in this front have played a pivotal role in steering the country towards a sustainable mobility future, including the Electric Vehicle Strategy 2021 that has set ambitious targets, including EVs comprising 10% of total vehicle sales by 2030 and the rapid deployment of EV infrastructure to support a zero-emission transportation future.
This comes in a new report released lately by PwC. The report says that EVs are gaining traction in Qatar and the sales of battery electric vehicles (BEVs) in Qatar are projected to climb from 1.1% in 2024 to around 14.4% in 2035 and sales of plug-in hybrid electric vehicles (PHEVs) from 0.7% in 2024 to 9.6% in 2035.
The report highlights the Ministry of Transport's key role in spearheading the transition to sustainable mobility with various strategies to support that goal towards a cleaner, more efficient, and environmentally conscious future.
The report indicates that thanks to those strategies 73% of public buses in Qatar are already electric, reflecting tangible transformation to green mobility.
Additionally, the MoT has had a key role in the establishment of an e-bus assembly plant in the Um Al Houl Free Zone in collaboration between Mowasalat (Karwa) and Yutong, the report says.
The 2022 FIFA World Cup Qatar, the report says, served as a landmark event in demonstrating Qatar's e-mobility capabilities, with over 1000 e-buses providing transportation for fans and visitors, making it the first-ever FIFA World Cup to be held in the Middle East with such a significant focus on electric transportation.
By shifting to e-mobility and cleaner power generation, Qatar can curb the rise in CO2 emissions by nearly 5% compared to an entirely internal combustion engine fleet, reinforcing the country's commitment to sustainable, low-carbon transportation.
Qatar's commitment to sustainability, paired with attractive green financing options, further strengthens the case for growth in this space and with a projected annual economic growth rate of 4.1% between 2025 and 2029 and a population set to reach 3.2 million by 2030, Qatar is primed for sustainable market expansion.
The report highlights serious efforts to install more than 1000 charging stations by 2030 supported by plans for 4000 stations by 2035. The report says Qatar has set ambitious renewable energy targets with solar capacity expected to grow to 5 gigawatts by 2035 and this means Qatar has the potential to fully meet EV charging demand through clean energy.
The report says Qatar is investing heavily in developing its e-mobility ecosystem and, in this regard, prototypes of Vim, the first EV to include Qatari intellectual property, were revealed by Ecotranzit in 2023.
Additionally, ABB E-mobility, a global leader in EV charging solutions, has partnered with the Public Works Authority (Ashghal) to open a state-of-the-art service and training center in the Um Al Houl Free Zone, focusing on both theoretical and hands-on training for EV charging infrastructure, the report says.
Qatar is a key investment partner internationally with significant investments by the Qatar Investment Authority (QIA) in major EV battery manufacturing companies such as SK On, positioning Qatar among the key players in the EV battery manufacturing landscape worldwide. Besides Yutong, adds the report, Qatarâ€s attractive market has already drawn interest from EV manufacturers such as Volkswagen, Porsche and Gaussin.
The report lays the groundwork for a future where Qatar is well-positioned internationally in terms of e-mobility with continued efforts to develop localized EV battery ecosystem, qualify national professionals and enhance international cooperation in R&D, paving the way for Qatar to become an exporter of technologies and components of sustainable transportation to Europe and Asia.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Qatar Tribune
4 hours ago
- Qatar Tribune
Business roadshow in China, Japan to promote Qatar's diverse investment opportunities
DOHA: Invest Qatar, the Investment Promotion Agency of Qatar, is set to organise a high-level business roadshow across key Asian markets, including China and Japan, in collaboration with Qatar Free Zones Authority (QFZ). According to an Invest Qatar's press release, the roadshow aims to showcase Qatar's diverse investment opportunities and foster direct engagement with international investors, business leaders and key stakeholders. It added that the business roadshow will host a series of engagements, designed to deepen economic ties, promote Qatar's business-friendly ecosystem and foster sustainable international partnerships aligned with the long-term development goals under the Third National Development Strategy (NDS3). Through curated B2B meetings, sector-specific briefings and targeted roundtable discussions, the roadshow will enable Asian investors to explore the array of opportunities across key sectors. The press release indicated that Qatar recorded over USD 1.4 billion in foreign direct investment (FDI) from China and Japan in 2024, contributing to the creation of more than 600 jobs across key sectors such as automotive, consumer electronics, business services and IT. According to Invest Qatar's 2024 Annual Report, China ranked among the top five source countries by project volume, with 12 investment projects, while Japan emerged as the leading contributor to FDI capital expenditure (capex), accounting for $1.38 billion, representing 50.2 percent of total FDI, underscoring its strong commitment to Qatar's economic growth and expanding presence in priority sectors. The press release pointed out that leading Chinese and Japanese companies, including Hisense, Shenzhen Airlines, Midea Group, BYD, Mitsubishi Electric and Sumitomo Group, have already established a strategic footprint in Qatar, reinforcing the country's position as a regional investment hub. It said that the roadshow will enable Asian investors to explore promising prospects in strategic sectors, including ICT, logistics, manufacturing, and financial services, adding that in line with Invest Qatar's efforts to strengthen international strategic partnerships, it has been partnering with key Asian businesses and entities, supporting their business launch and growth in Qatar and the region. According to the press release, recent partnerships included Level Infinite, Tencent's global games brand, aimed to grow the local gaming ecosystem and share global best practices by facilitating Level Infinite's entry into the Qatari market. Similarly, Kingdee International Software Group Company Limited announced the opening of its regional headquarters, marking its official entry into the Middle East market, facilitated through the support of Invest Qatar, QFZ and Qatar Investment Authority (QIA). All this comes as a testament to the effectiveness of joint national efforts in attracting major global companies and to Qatar's position as a leading regional hub for technology and innovation.
Qatar Tribune
15 hours ago
- Qatar Tribune
QSE welcomes $200 mn Fiera Fund
QNA Doha The Qatar Stock Exchange (QSE) has welcomed the announcement by the Qatar Investment Authority (QIA) of a strategic partnership with Fiera Capital to launch the $200 million Fiera Qatar Equity Fund, a landmark initiative aimed at enhancing market liquidity, increasing the free float of Qatari equities, and attracting new institutional capital to the Qatari market. This initiative reflects QIA's continued commitment to advancing Qatar's economic diversification and strengthening key sectors, notably financial markets and asset management, according to a statement issued on the QSE website. The engagement of active fund managers represents a significant step in broadening the investor base and boosting free float shares in the market. As the anchor investor, QIA will convert a portion of its long-term strategic holdings in listed Qatari companies into assets managed actively within the fund. This approach is expected to inject substantial new liquidity into the market, facilitate greater institutional participation, and attract a wider range of global investors to Qatar's evolving financial landscape. QSE considers this fund a strategic addition to the suite of specialised investment products in the local market. It will play a critical role in diversifying the investor base, supporting sustainable, high-quality capital inflows, and reinforcing Qatar's position as a leading regional financial hub. The exchange also reaffirmed its commitment to continued collaboration with QIA on initiatives that contribute to the objectives of the Third Financial Sector Strategy and Qatar National Vision 2030. QIA has been instrumental in strengthening Qatar's capital markets through a series of targeted programs, including the Market Making initiative, the Securities Lending and Borrowing framework, and the Active Asset Management initiative launched in 2024. These efforts have already delivered tangible results, including the $200 million Qatar-focused equity fund launched in partnership with Ashmore Group. The newly announced collaboration with Fiera Capital marks another important milestone in expanding market participation and supporting the long-term growth of Qatar's financial ecosystem.
Qatar Tribune
15 hours ago
- Qatar Tribune
Invest Qatar, QFZ to showcase investment opportunities on Asia tour
Tribune News Network Doha Invest Qatar, the Investment Promotion Agency of Qatar, is set to organise a high-level business roadshow across key Asian markets, including China and Japan, in collaboration with Qatar Free Zones Authority (QFZ). The roadshow aims to showcase Qatar's diverse investment opportunities and foster direct engagement with international investors, business leaders and key stakeholders. Invest Qatar and QFZ will host a series of engagements, designed to deepen economic ties, promote Qatar's business-friendly ecosystem and foster sustainable international partnerships aligned with the long-term development goals under the Third National Development Strategy (NDS3). Through curated B2B meetings, sector-specific briefings and targeted roundtable discussions, the roadshow will enable Asian investors to explore the array of opportunities across key sectors, including ICT, logistics, manufacturing and financial services. Invest Qatar has been partnering with key Asian businesses and entities, supporting their business launch and growth in Qatar and the region. Recent partnerships included Level Infinite, Tencent's global games brand, aimed to grow the local gaming ecosystem and share global best practices by facilitating Level Infinite's entry into the Qatari market. Similarly, Kingdee International Software Group Company Limited announced the opening of its regional headquarters, marking its official entry into the Middle East market, facilitated through the support of Invest Qatar, QFZ and Qatar Investment Authority (QIA). Growth of Asian investment in Qatar in 2024, Qatar recorded over $1.4 billion in foreign direct investment (FDI) from China and Japan, contributing to the creation of more than 600 jobs across key sectors such as automotive, consumer electronics, business services and IT. According to Invest Qatar's 2024 Annual Report, China ranked among the top five source countries by project volume, with 12 investment projects. Japan emerged as the leading contributor to FDI capital expenditure (capex), accounting for $1.38 billion, representing 50.2 percent of total FDI, underscoring its strong commitment to Qatar's economic growth and expanding presence in priority sectors. Leading Chinese and Japanese companies, including Hisense, Shenzhen Airlines, Midea Group, BYD, Mitsubishi Electric and Sumitomo Group, have already established a strategic footprint in Qatar, reinforcing the country's position as a regional investment hub.
