In reaction to the UAE government recently revising fuel subsidies, industry experts today urged motorists to adopt fuel-efficient vehicles to save on petrol costs and support the UAE’s sustainable transportation agenda.
Starting on 1 August 2015, the UAE Ministry of Energy, ADNOC, and ENOC have coordinated on revising transport fuel subsidies, by aligning petrol and diesel prices monthly to global price indices and operating costs, according to Fitch Ratings, which predicts that fellow GCC countries could join the UAE in reforming energy subsidies.
Meeting the growing demand for fuel efficient vehicles in the region, and supporting the UAE’s sustainability agendas with UAE Vision 2021 and Abu Dhabi Vision 2030, the World Future Energy Summit (WFES) 2016, hosted by Masdar and part of Abu Dhabi Sustainability Week, will launch a new dedicated area “WFES Sustainable Transport”.
At WFES Sustainable Transport, manufacturers and innovators will showcase sustainable transportation technology across land, sea, and air; complemented by conference proceedings featuring global thought leaders on sustainable transportation.
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| Naji El Haddad, Group Event Director, WFES 2016 |
“Revising fuel subsidies in the UAE is already leading to higher prices at the pump, boosting demand from motorists, educational institutions, organisations and mass transit authorities to rapidly adopt the latest fuel efficient hybrid vehicles,” said Naji El Haddad, Group Event Director, WFES 2016.
“The UAE is set a regional trendsetter in reforming fuel subsidies and supporting national sustainability agendas. In turn, the UAE is primed to quickly become a fast-growing market for hybrid and electric vehicle manufacturers,” added Naji El Haddad.
Demonstrating the potential for fuel efficient vehicles, the UAE has one of the fastest-growing automobile markets in the region, with the country’s automotive sales growing by 6.5 percent from 1H 2013 to 1H 2014, and 75 percent of consumers planning to buy a car in the next two years, according to a recent report by Emirates NBD.
In previous years, leading fuel efficient vehicle manufacturers Renault Group, Nissan Group, Mercedes-Benz, and Porsche, along with Portugal’s MOBI.E electromobility charging system, have participated in WFES, showcasing vehicles such as the all-electric Nissan Leaf and the high-efficiency diesel-powered Renault Clio.
WFES 2016 will take place at the Abu Dhabi National Exhibition Centre on 18-21 January 2016, and is co-located with International Water Summit, and EcoWASTE.