Global 6Wresearch Market Reports

  Market Forecast By Vehicle Types (Two-Wheeler, Passenger Vehicle, Bus, Trucks), By Regions (Western, Southern, Eastern, Central) And Competitive Landscape. According to 6Wresearch, Saudi Arabia electric vehicle market size is projected to grow at CAGR of 42.5% during 2021-2027. Saudi Arabia electric vehicle market is expected to be robust owing to government’s focus on renewable energy and shift towards lower dependence on oil-based economy along with increased standard of living are the primary reasons contributing to the rising demand for electric vehicles. The country has signed a memorandum of understanding (MoU) with the United Kingdom in a move to reduce carbon emissions and support Saudi Vision 2030. The MoU commits both countries to cooperate and share expertise to develop technologies, including smart grids and electric vehicles. The government of Saudi Arabia decided to adopt non-oil economy as a part of its “Vision 2030” and is encouraging multiple international firm...