China model inflow will propel EV sales in the Middle East

China's introduction of electric vehicles in the Middle East could boost regional sales, with global sales expected to reach 17 million units by 2024, a 21.42 percent increase from 2023.

Regional sales of electric vehicles could be boosted by the introduction of Chinese automobile models in the Middle East, since global sales are expected to reach 17 million units by 2024. The newest forecast from the International Energy Agency indicates that this represents a 21.42 percent increase from the previous year, with China accounting for over 60% of new electric car registrations in 2023, followed by the US at 10% and Europe at 25%.

According to the Global EV Outlook 2024, barely 1% of all cars sold in Africa, Eurasia, and the Middle East are electric cars, indicating that these markets are still in their infancy. In the upcoming years, the industry may be able to grow as a result of Chinese automakers' desire to investigate these areas in addition to producing cars in their own country. In 2023, the Chinese manufacturer BYD and UzAuto Motors formed a joint venture in Uzbekistan with the aim of producing 50,000 electric cars annually.

Meanwhile, Chery International has partnered with ADM Jizzakh. Sales of electric vehicles have already increased significantly in Uzbekistan as a result of this agreement, and by 2023, they should exceed 10,000. Furthermore, the Chinese electric car manufacturer Human Horizons and Saudi Arabia's Ministry of Investment inked a $5.6 billion agreement in July of last year to work together on the research, production, and marketing of automobiles.