Like many Saudi Arabians, HR worker Hamed Al-Rafidain drives a fuel-guzzling 4 X 4, but he also owns an electric vehicle.
Al-Rafidain, 39, is a member of the Kingdom’s increasing but still-small electric car user base, which hopes to develop into a center for the technology.
Rafidain stated that his decision to purchase an electric car was motivated by financial concerns. He pays SR2,000 ($530) each month for petrol for his off-road vehicle. “With no need for oil changes, maintenance costs are also lower than with a conventional vehicle.”
He purchased a BYD for somewhat more than $53,300, primarily for quick journeys inside the city. Rafidain remarked that driving outside of Riyadh was a “gamble, especially since the infrastructure is still underdeveloped.”
The PIF, Saudi Arabia’s sovereign wealth fund, owns 60% of electric vehicle manufacturer Lucid, and Hyundai of South Korea intends to build a manufacturing in the Kingdom. Launched in 2022, the Saudi brand CEER plans to begin production in 2025. Saudi Arabia eventually wants to create 300,000 electric vehicles annually.
Since worldwide rival Tesla does not have any dealerships in Saudi Arabia, Chinese manufacturer BYD is anticipated to dominate the Saudi market in the interim.
Sales of electric cars nearly tripled to 800 units last year, and dealer Hassan Mohammed anticipates higher numbers this year. “Customers have been encouraged by the fact that multiple car brands have opened their doors in the Kingdom and are now offering after-sales service,” he said.
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