Shares rally after the disclosure, better than some forecasts.

Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant CATL, despite NGOs raising concerns over a lack of environmental guarantees. Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves, with a...

Shanghai, China -- Once blithely dominant in China, European automakers are now launching full-fledged charm offensives at consumers in the world's largest car market, seeking to claw back sales lost to domestic rivals. At this week's Auto Shanghai, the largest global industry show of its kind, foreign firms -- in...

Saudi Aramco, the world's largest producer of oil, "is exploring a number of ways to potentially optimize transport efficiency, from innovative lower-carbon fuels to advanced powertrain concepts," said Ali A. Al-Meshari, its senior vice president of Technology Oversight and Coordination.

The dip occurred amid lower production during factory upgrades.

The company suffered from boycotts against the policies of Elon Musk.

The big Detroit automaker reported 659,601 US sales during the period.

Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids expected to replace human workers building EVs on assembly lines, Reuters reports. At the World Robot Conference this week in Beijing, over two dozen Chinese companies showed off humanoid robots...

AEMOB Forum will be held in Qatar from April 30 to May 2

The alliance will take on China's dominant EV makers.

It will be its first foray into the electric vehicle sector.

It will introduce a commercial model in the US in 2026.

It is part of the company's planned US$2bn investment.

At the time of its establishment in 2019, Evergrande NEV said it aimed to become the world's leading manufacturer of electric cars in just "three to five years". But the EV unit's cash flow and growth outlook were hit hard by its parent company's increasingly dire financial situation.

Seoul, South Korea--South Korea's exports of eco-friendly vehicles surged 32.5 percent year-on-year to a record high during the first 11 months of 2023, due to solid global demand for electric vehicles (EVs), Yonhap News Agency reported on Sunday. The export volume of eco-friendly automobiles came to 662,307 units during the...

BYD already has operations in Hungary, including an electric bus factory.

Riyadh, Saudi Arabia  -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products, including electric batteries, Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef said on Thursday  “The inauguration of Lucid Motor’s plant confirms the sound implementation of the National Industrial Strategy...

Dubai, UAE - Nearly 15 million electric cars, including both battery electric and plug-in hybrid vehicles, are expected to be shipped worldwide in 2023, Gartner, a global research firm says in its latest forecast.  The figure is anticipated to see a 19% increase in 2024, with a total of 17.9...

Tehran, Iran - The CEO of Iran’s largest car manufacturing company, IKCO (Iran Khodro Industrial Group), said that his company will import the first batch of electric vehicles (EVs) bought from China’s Dongfeng Motor Corporation. IKCO’s CEO Alimardan Azimi said on Monday that EV imports by the company will amount...

Abu Dhabi, UAE -  The UAE is growing the number of Electric Vehicle (EV) charging stations from 500 to 800 in the next few years.  This was stated by the country’s Minister of Energy and Infrastructure, Suhail bin Mohammed Al Mazrouei,  on the sidelines of the ongoing World Utilities Conference...

Global equities mostly slid on auto sector woes and economic fears about the prospect of more interest rate hikes aimed at cooling high inflation. Share prices of carmakers were hit hard after Tesla posted tumbling first-quarter profits as steep price cuts ate into margins at Elon Musk's electric auto company.

The new venture will be launched in 2024.

From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries like the UAE and Saudi Arabia.

Traditional carmakers are in a race to make more electric vehicles.

Tesla shares rose 5% to $1,026.99 in after-hours trading.

The automaker is switching all sales away from traditional fuel cars.

That is 67 percent higher than deliveries in the year-ago period.

Experts help TRENDS see the road that lies ahead for electric vehicles in the region, and its one of hope: for both business and the environment!

Rising prices of metals, elements, and compounds used in EVs could be a headache, but the MENA region and the world are already working to offset it. A few right policy moves will help economies like the UAE and Saudi Arabia to diversify their economy, especially away from oil and...

Japanese firm Toyota is the world’s biggest carmaker.