As ever, the beginning of a new year is always a good moment to think about what the months ahead may bring. No one knows, of course, the surprises (and shocks?) that 2024 may hold for us, but that shouldn’t dissuade a bit of studied speculation.
One thing is for sure, the astonishing momentum the EV industry has generated in the last 12 months is set to continue and accelerate as the world awakes to the need for a radical shift in transportation policies.
The good news is that the year ahead promises a mix of cool new tech, more affordable cars, and an expanding market, especially in places like the UAE which loves to be at the forefront of new trends.
Chinese EV brands going big
It would be fair to say that Chinese car companies made a massive impact on the global car trade, and that pace will continue unabated. Brands like BYD and SAIC (which owns MG) are becoming more popular. Plus, Geely – which owns big names like Lotus, Volvo, and Polestar – is making huge strides. We can expect to see these brands, along with newcomers like Nio and Chery Automobile, gaining more traction globally.
Will NIO start to take off in 2024 in the same way as its sister brand BYD did in 2023?
More wallet-friendly electric cars
Among the biggest issues faced by those wanting to make the switch to electric cars, are the high prices they command. However, brands like MG have shown it’s possible to offer high-quality and practical cars that are not much pricier or on par with their fossil fuel equivalents. 2023 saw something of a price war instigated by Tesla and heavy depreciation on used EVs is also putting them within reach of would-be buyers.
Expect the downward pressure to continue, with the launch of more affordable products like the Dacia Spring. Stellantis CEO Carlos Tavares recently stated the importance of ensuring the next generation of EVs need to be “affordable but profitable”, so expect to see more keenly priced offerings from Peugeot and Citroen.
Other big names like Ford, Nissan, and Renault are also cutting prices on their EV models, making electric cars a realistic option for more people.
The Dacia Spring is just one of a growing number of very affordable EVs coming to the market.
Electric cars in the region
The UAE is going big on electric cars, ranked eighth globally for being ready for electric mobility, and the EV market is expected to grow fast, and indeed it’s estimated to see a 30% increase each year until 2028.
The UAE government is backing this up with initiatives like Dubai’s Green Charger, which aims to make public transport emission-free by 2050. There are already over 1000 public charging points aimed to make owning an EV in the UAE as convenient as possible.
Amazing new EVs are on the way
Just as EVs dominated new car introductions in 2023, expect a raft of new models to come out in quick succession. With too many to list here, we know the Tesla Cybertruck has gone on sale in the US and will be hitting international markets. Expect that to be a hit in the Middle East.
MG might do what Mazda did with the MX-5 Miata and steal the high ground in the EV sports car market with its Cyberster roadster, which promises to be affordable and fun to drive. Although one of the most anticipated cars, the Dodge Charger Daytona EV (the first electric “muscle car”), is expected to offer over 1000bhp in top trim with a meaty artificially generated exhaust note.
The Dodge Charger Daytona EV is one of the most anticipated cars, boasting over 1000bhp.
New tech will dominate
However new advancements in tech will also feature heavily. Primarily in battery technology with a race to improve ranges and speed up charging times. Game-changing Solid-State battery technology is not expected until 2025, but as the furiously competitive race to bring new solutions to market continues apace, it would not be a surprise to see it appear in the last quarter of 2024.
Alternative solutions to the quick-charging conundrum are also being explored. For instance, a deal between Stellantis and Ample to introduce modular battery-swapping technology, starting with the Fiat 500e in Madrid, shows the kind of innovation we can expect. This is already available in China.
Expect to see the staggering advances in AI also enter cars, less so in terms of fully autonomous driving, but more as a moving assistant that will help monitor and control your car’s features, as well as anticipate your requirements.
This, of course, is also making digital privacy a big deal in the EV world. With tools like Google Consent Mode, car companies are making sure they handle your data responsibly. They’re combining info from online sources (like your web browsing) and offline stuff (like dealership visits) to understand what customers want better, without stepping over privacy lines.
2024 is shaping up to be a huge year for electric cars. We’re seeing more affordable options, exciting new models, and big growth in markets like the UAE. Whether you’re a tech geek, a car enthusiast, or just someone interested in a cleaner, cooler way to get around, there’s something to look forward to.
