Bahrain has achieved a world ranking of 18th in terms of electric vehicle (EV) readiness, according to a new study by management consulting firm Arthur D. Little (ADL).
The report, entitled Global Electric Mobility Readiness Index (GEMRIX) 2023, highlights the significant increase in global EV adoption since its last edition in 2022.
The third edition of this study expands coverage to 35 markets across all continents, making it the most comprehensive electric vehicle market readiness indicator currently available in the industry.
Norway maintains its position as a world leader in EV readiness, but China has emerged as a close competitor. Following these market leaders, countries like Bahrain are also laying the foundations for wider EV adoption.
In 2021, Bahrain opened its first public EV charging station, marking an important milestone in the country’s sustainable transport efforts.
The Ministry of Transport and Communications has also introduced emission-free electric scooters and bicycles throughout the capital, Manama, further enriching the country’s EV environment.
Joseph Salem, Partner and Head of Travel and Transportation Practice at Arthur D. Little Middle East, noted that sustainable transportation is in line with Bahrain’s Economic Vision 2030, saying, “Bahrain is a major player in the electric vehicle sector. The Government’s Economic Vision 2030 and Logistics Services Sector Strategy 2022-26 serve as a strong policy framework to pave the way for a more sustainable and decarbonized future.”
In a significant effort to make electric vehicles more economically attractive, National Bank of Bahrain (NBB) has entered into a strategic partnership with Bahrain National Insurance.
Launching in 2022, the partnership is an integral part of NBB’s auto financing program, which aims to offer discounts on car insurance and EV insurance premiums.
Moreover, the benefits extend beyond simple cost savings. In addition, customers who sign a contract will receive comprehensive insurance for up to 5 years, including repairs by dealers.
In addition, the program also offers a range of value-added services, such as battery replacement and electric vehicle charging facilities. This multi-pronged approach not only lowers the financial barrier to electric vehicle ownership, but also provides peace of mind through expanded coverage and additional benefits.
The report also cites the launch of Bahrain’s first electric vehicle factory in 2023 as a key initiative, through a ground-breaking partnership between Merson Group and US manufacturer Gauss Auto.
The plant plans to produce a wide range of electric vehicles, from motorcycles to passenger cars.
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