- Local and international expert speakers to examine feasibility of regional EV goals as MENA EV market forecasts predict USD4.3 bn valuation by 2028
- Key session to outline Pakistan EV value chain mobility report commissioned by the Pakistan Private Sector Energy Project, amongst programme highlights
Abu Dhabi, UAE; April 1, 2024: In one of three major expansions of its robust knowledge-sharing programme, the World Future Energy Summit, hosted by Masdar, has announced the launch of a dedicated eMobility Forum to debut at the 2024 event, the 16th in the annual series, which runs at Abu Dhabi National Exhibition Centre (ADNEC) from April 16-18.
With the Middle East and North Africa (MENA) EV market predicted to reach a US$4.3 bn valuation by 20281, the first-ever eMobility Forum on April 18 will feature expert local and global speakers, including ministerial officials, climate change advocates, investors, mobility solutions planners and architects, logistics providers, civil and urban engineers, transport systems executives, and EV resellers.
Through a series of discussions, presentations, and fireside chats, the high-profile industry collective will scrutinise the viability of regional EV targets, how clean and autonomous transport will transform city design, ways to enhance stakeholder involvement, and the regulatory frameworks required to govern EV usage.
A Forum highlight will be the presentation of the ‘Scaling Up Electric Mobility in Pakistan’ report, which was commissioned by the Pakistan Private Sector Energy Project (PPSEP) with the support of United Nations Industrial Development Organisation (UNIDO, the United States Agency for International Development (USAID), the Private Funding Advisory Network (PFAN),) and Renewable Energy and Energy Efficiency Partnership (REEEP), which advances the deployment of reliable and clean energy solutions in low and middle-income countries.
“As one of the world’s largest motorcycle markets, with nearly half of all households owning a bike, Pakistan’s mobility sector is gearing up for transformative change,” stated Naveen Ahmed, Country Transaction Coordinator at PFAN.
The presentation of the report comes as Pakistan continues to foot a hefty fuel import bill, faces alarming pollution in major cities and has surplus power. “The theme of our report is to discuss the mobility landscape in Pakistan, our potential contribution in combating climate change, and the commercial opportunities it presents within the EV ecosystem. It comprises crucial guidelines for public and private stakeholders towards implementing Pakistan’s National Electric Vehicle Policy and ways to fast-track the EV value chain throughout the country.
Increased EV penetration is an effective means to reduce energy intensity in the road transport sector, lower operational costs for end-users, and reduce tailpipe emissions. It also means energy security for a country that relies on imported fuel for logistics, while also helping achieve adequate utilization of the existing power generation capacity, thereby bringing down the unit cost of electricity,” added Ahmed.
With Mordor Intelligence estimating the Middle East and African continent’s EV market will achieve CAGR of 23.20% until 2029, regional governments are actively promoting EV use, and the increased awareness of energy storage solutions is matching growing expectations that sub-Saharan African countries will make large power capacity investments over the next decade.
As GCC nations emerge as early EV adopters, the Saudi Arabian Standards Organisation plans to issue regulations for EV use, while the UAE’s Road Transport Authority (RTA) is developing nationwide charging stations.
“eMobility is crucial to achieving regional net zero 2050 targets and we are seeing determined progress,” commented Leen AlSebai, General Manager of RX Middle East and Head of the World Future Energy Summit. “The UAE, for instance, is ranked seventh globally and leads the region in the EV readiness index, signifying its commitment to sustainable transportation with 82 per cent of its residents willing to buy an EV as their next vehicle.
“Dubai’s Green Mobility Strategy 2030 aims to have approximately 42,000 electric cars on the emirate’s roads within the next six years, and its EV Green Charger initiative is expanding the availability of charging stations across the city. This produces a wealth of business opportunities for technology suppliers, which the new Forum will actively explore,” added AlSebai.
The 2024 agenda also debuts the Green Finance conference on April 17, where policymakers, asset managers, financiers, academics, environmentalists, and major energy corporates will gather to unpick crucial issues around one of the industry’s hottest topics.
The World Future Energy Summit is hosted by Masdar, one of the world’s largest renewable energy investors and drivers of the energy transition, and convenes industry leaders, policymakers, investment incubators, corporate partners, and world-class startups. The Summit is expected to host close to 400 exhibitors, attract more than 30,000 visitors, and feature over 350 speakers addressing solar, ecowaste, water, clean energy, climate and environment, and smart cities.
