Emerging Trend: Chinese BEV Manufacturers Poised for International Expansion in Saudi Arabia’s EV Market

Seven in 10 Saudi Arabian residents are “very” or “moderately” likely to purchase a battery-electric vehicle (BEV), a figure projected to rise to 85% by 2035. This indicates significant growth potential for BEVs in the country over the coming years.

In China, the world’s largest automobile market, the “very” or “moderately” likely BEV-purchase intention is nearing totality, while sentiment growth for pure BEVs stagnates at 35-43% in the USA and Europe. This is according to AlixPartners’ 2024 International Electric Vehicle Consumer-Sentiment Survey, released by the global consulting firm AlixPartners.

While costs and charging are the primary concerns globally in the survey regarding choosing a BEV, respondents in Saudi Arabia are less concerned with costs than other countries. Instead, they worry more about safety, complexity, and aftermarket concerns.

Charging flexibility and extended range are the main reasons for choosing a plug-in hybrid electric Vehicle (PHEV) over a BEV in the Kingdom, mirroring similar trends in the USA and Europe.

Notably, 93% of those in Saudi Arabia who are “very” or “moderately likely” to consider a BEV are also “very” or “moderately likely” to choose a PHEV as their next vehicle purchase or lease.

AlixPartners’ survey also underscores a significant trend in Saudi Arabia’s EV landscape, where Chinese BEV manufacturers, following extensive refinement in their domestic market, are now poised for international expansion.

Notably, Saudi consumers have the highest awareness of Chinese BEV brands, with 93% of those “very likely” and “moderately likely” to buy BEVs being aware of at least one Chinese brand.

Among these brands, BYD leads in recognition. This contrasts with international figures, where 47-71% of potential BEV buyers know one or more Chinese brands.

AlixPartners’ survey, the third of its kind, included 10,000 respondents in ten markets representing more than 80% of global BEV sales, with 1,000 respondents in each market. The study gauged general interest in BEVs and PHEVs, price sensitivity, and awareness and consideration globally of Chinese automaker brands.