Update date: Jul 08, 2026 | N/A Pages | Report ID: EP-ES-001452
Middle-East Electric Vehicle Battery Market
DMA IntelligenceMiddle-East Electric Vehicle Battery Market Evolution & Future Outlook 2033
Segments: Battery Type (Lead-acid Battery, Lithium-ion Battery, Other Battery Types), Vehicle Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV)), By Region, And Segment Forecasts
$3.0B
Market Size, 2025
$3.5B
Market Estimate, 2026
$11.5B
Market Forecast, 2033
18.5%
CAGR, 2026–2033
Middle-East Electric Vehicle Battery Market Size, Share & Key Insights
The Middle-East Electric Vehicle Battery Market size was valued at USD 2.95 Billion in 2025, and the market is projected to grow from USD 3.50 Billion in 2026 to USD 11.47 Billion by 2033, growing at a CAGR of 18.5% during the forecast period 2026–2033. The market saw distributed global demand in 2025.
Study Overview
 Study Period | 2021 - 2033 |
 Base Year | 2025 |
 Estimated Year | 2026 |
 Forecast Period | 2026-2033 |
 Historical Range | 2021-2025 |
| Units | USD Billion |
 Coverage | Global | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
 Deliverables | PDF + Excel Data Pack |
Major Market Players
Key Insights
- The Middle-East Electric Vehicle Battery market is projected to grow from USD 2.95 Billion in 2025 to USD 10.90 Billion by 2033, demonstrating a substantial CAGR of 18.50% over the forecast period, indicative of rapid industry expansion.
- Asia Pacific currently holds the largest market share in 2025, while the Middle East & Africa region is anticipated to be the fastest-growing market, driven by proactive government initiatives and infrastructure development.
- Lithium-ion batteries are expected to maintain their dominance, accounting for approximately 40% of the market share, yet solid-state batteries are emerging as a key growth segment, reflecting ongoing technological advancements and investment in next-generation solutions.
Market Definiton and Strategic Context
The Middle-East Electric Vehicle Battery Market refers to the industry encompassing the research, development, manufacturing, supply, and integration of batteries specifically designed for electric vehicles (EVs) across countries in the Middle East region, including Saudi Arabia, the UAE, Oman, and others. This market is pivotal to the region's ambitious economic diversification plans and decarbonization efforts, aiming to reduce reliance on fossil fuels and foster sustainable transportation. The growth outlook for the Middle-East Electric Vehicle Battery market is robust, driven by increasing government support for EV adoption, significant investments in charging infrastructure, and a rising consumer awareness regarding environmental benefits. The market encompasses various battery chemistries, primarily lithium-ion, but also includes emerging technologies like solid-state batteries, catering to a diverse range of vehicle types from passenger cars to commercial fleets and public transport. The market forecast indicates substantial industry expansion, with regional players and international manufacturers intensifying their efforts to localize production and establish strong supply chains. Key factors influencing this market include raw material sourcing, technological advancements in energy density and charging speed, regulatory frameworks promoting EV sales, and the competitive landscape of battery suppliers. The current market value for the Middle-East Electric Vehicle Battery market was estimated at USD 2.95 Billion in 2025, reflecting a nascent yet rapidly evolving ecosystem. The region's strategic location and financial capacity enable significant investments in advanced manufacturing facilities and research initiatives, positioning it as a critical hub for future EV battery innovation and production. The market is also influenced by global trends in battery technology and supply chain dynamics, with a strong focus on enhancing battery performance, safety, and longevity to meet the demanding operational conditions in the Middle East. Furthermore, the development of robust recycling infrastructure for spent EV batteries is becoming an increasingly important aspect of the market's sustainable growth strategy, aligning with global circular economy principles. The Middle-East Electric Vehicle Battery market is poised for transformative growth, contributing significantly to both regional economic development and global climate objectives. The integration of smart grid technologies and renewable energy sources further enhances the appeal and sustainability of EV adoption in the region, creating a synergistic environment for market expansion.
| Report Attribute | Details |
|---|---|
| Market size value in 2025 | USD 2.95 Billion |
| Revenue forecast in 2033 | USD 11.47 Billion |
| Growth rate | CAGR of 18.5% from 2025 to 2033 |
| Actual data | 2021 - 2024 |
| Forecast period | 2025 - 2033 |
| Quantitative units | Revenue in USD Billion and CAGR from 2025 to 2033 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | Battery Type, Vehicle Type, Geography |
| Regional scope | Saudi Arabia; The United Arab Emirates; Oman; Rest of Middle-East |
| Country scope | All; All; All; All |
| Key companies profiled | East Penn Manufacturing Co. Inc; C&D Technologies Inc.,; Exide Industries Ltd,; First National Battery Pty Ltd; Middle East Battery Company (MEBCO); GS Yuasa Corporation; Mebco; Tesla Inc. |
| Customization scope | Free report customization (equivalent to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Growth Catalysts & Market Constraints
The Middle-East Electric Vehicle Battery market is undergoing significant transformation, driven by a confluence of supportive government policies, rapid technological advancements, and increasing environmental consciousness. The region's strategic push towards economic diversification and sustainability mandates substantial investments in electric mobility infrastructure and manufacturing capabilities, directly boosting the Middle-East Electric Vehicle Battery market size. This robust growth forecast is further underpinned by the rising demand for electric vehicles across various segments, from passenger cars to commercial fleets, necessitating a robust supply of advanced battery solutions. However, the market also faces inherent challenges, including the high initial cost of EVs and batteries, the nascent state of recycling infrastructure, and the complexity of establishing a localized supply chain for critical raw materials. Understanding these dynamics is crucial for stakeholders navigating the Middle-East Electric Vehicle Battery market and capitalizing on emerging opportunities while mitigating potential risks.
Growth Drivers
- Government initiatives and supportive policies across Middle Eastern countries are significantly accelerating EV adoption. Subsidies, tax incentives, and ambitious national strategies like Saudi Arabia's Vision 2030 and UAE's Net Zero 2050 targets are creating a fertile ground for electric vehicle sales and, consequently, boosting the demand for EV batteries by fostering a favorable regulatory and economic environment.
- Rapid development of EV charging infrastructure, including fast-charging stations and widespread public and private charging points, directly addresses range anxiety and convenience concerns. This expansion makes EVs more viable for consumers and commercial operators, thereby increasing the overall market penetration of electric vehicles and driving demand for high-performance batteries.
Restraints
- The high initial cost of electric vehicles and their associated battery packs remains a significant barrier for widespread consumer adoption in the Middle East. Despite long-term operational savings, the upfront investment can deter potential buyers, particularly in cost-sensitive segments, thus limiting the market's full growth potential and increasing reliance on government incentives.
- The nascent and fragmented nature of the EV battery recycling infrastructure in the Middle East poses environmental challenges and supply chain risks. Without robust recycling capabilities, the region faces issues with waste management and reliance on imported raw materials, hindering the development of a sustainable, circular economy for EV batteries.
Opportunities
- Investment in localized battery manufacturing and assembly plants within the Middle East presents a substantial opportunity to reduce import dependency, create jobs, and foster technological expertise. Strategic partnerships between international battery manufacturers and regional entities can accelerate this localization, enhancing supply chain resilience and reducing logistics costs.
- Diversification into advanced battery chemistries, such as solid-state batteries and lithium-sulfur technologies, offers a pathway for regional players to gain a competitive edge. Focused R&D and pilot projects in these areas could position the Middle East as a leader in next-generation EV battery innovation, attracting further investment and talent.
Challenges
- Ensuring a stable and ethical supply chain for critical raw materials like lithium, cobalt, and nickel is a persistent challenge. Geopolitical factors, price volatility, and environmental concerns associated with mining can disrupt production and increase costs, requiring strategic sourcing agreements and potential investments in resource exploration.
- The extreme climate conditions in parts of the Middle East, characterized by high temperatures, pose unique engineering challenges for EV battery thermal management. Batteries must be designed and optimized to perform efficiently and safely under these demanding conditions, requiring specialized cooling systems and robust material selection to prevent degradation and ensure longevity.
Market Level Breakdown
The Middle-East Electric Vehicle Battery market is segmented primarily by Battery Type, which includes Lithium-ion, Lead-acid, Nickel-metal Hydride, and emerging Solid-state batteries. Lithium-ion technology currently dominates this segment due to its high energy density, longer lifespan, and decreasing costs, making it the preferred choice for most modern EVs. However, traditional lead-acid and nickel-metal hydride batteries still hold niche applications, particularly in hybrid vehicles and certain commercial segments where cost-effectiveness or specific performance characteristics are prioritized. The advent of solid-state batteries represents a significant technological leap, promising greater safety, faster charging, and higher energy density, and is expected to capture a growing share as commercialization progresses, profoundly impacting the Middle-East Electric Vehicle Battery market segmentation.
Another crucial segmentation factor for the Middle-East Electric Vehicle Battery market is Vehicle Type, encompassing passenger cars, commercial vehicles, two-wheelers, and e-buses. Passenger cars represent the largest segment, driven by increasing consumer adoption of EVs, supportive government policies, and expanding charging infrastructure. The commercial vehicle segment, including light-duty trucks and vans, is also experiencing robust growth as businesses seek to electrify their fleets for operational efficiency and environmental compliance. While two-wheelers and e-buses currently constitute smaller shares, they are vital for urban mobility and public transportation electrification initiatives, indicating diverse application landscapes within the Middle-East Electric Vehicle Battery industry expansion.
Geographically, the Middle-East Electric Vehicle Battery market is segmented across key countries such as Saudi Arabia, the United Arab Emirates, Oman, and the Rest of Middle-East. Each country presents unique market dynamics influenced by national EV strategies, investment in infrastructure, and consumer purchasing power. The UAE and Saudi Arabia are leading the charge with significant investments in smart city projects and EV incentives, fostering a rapid increase in demand for EV batteries. Oman and other regional players are also progressively integrating EVs into their transportation networks, contributing to the overall Middle-East Electric Vehicle Battery market growth. This regional breakdown highlights varied growth trajectories and investment opportunities across the diverse Middle Eastern landscape.
Middle-East Electric Vehicle Battery Segmentation Breakdown
- Battery Type
- Lead-acid Battery
- Lithium-ion Battery
- Other Battery Types
- Vehicle Type
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Hybrid Electric Vehicle (HEV)
- Geography
- Saudi Arabia
- The United Arab Emirates
- Oman
- Rest of Middle-East
Geographic Performance & Regional Trends
While Asia Pacific currently holds the largest market share in the global Electric Vehicle Battery market, driven by its massive manufacturing base and high EV adoption rates, the Middle East & Africa region is poised for the fastest growth. This rapid Middle-East Electric Vehicle Battery market growth is primarily attributed to aggressive government strategies focused on economic diversification, substantial investments in EV charging infrastructure, and increasing consumer awareness regarding sustainable transportation. Countries like Saudi Arabia and the UAE are actively promoting EV sales through incentives and developing smart cities, creating a robust demand for EV batteries. This proactive regional approach, coupled with a strategic shift away from fossil fuel dependency, positions the Middle East & Africa as a critical emerging market for electric vehicle battery technologies and manufacturing.
Regional Growth Drivers
- North America: The region benefits from strong government support for EV adoption, including federal tax credits and state-level incentives, coupled with significant investments from major automotive manufacturers. This ecosystem fosters innovation and expands charging networks, particularly in the United States and Canada, driving steady demand for advanced EV batteries.
- Europe: Stringent emission regulations, ambitious decarbonization targets, and a well-established network of charging infrastructure are key drivers in Europe. Countries like Germany, Norway, and the United Kingdom are witnessing high EV penetration rates, sustained by substantial public and private investments in battery technology and manufacturing capabilities.
- Asia Pacific: This region is the global leader in EV production and adoption, fueled by supportive government policies, large domestic markets, and a strong presence of key battery manufacturers. Rapid urbanization and increasing disposable incomes in countries such as China, Japan, and India are propelling the demand for diverse electric vehicle battery solutions.
- Latin America: Emerging economies in Latin America are increasingly focusing on sustainable urban mobility and reducing air pollution. Government initiatives and public transport electrification projects in countries like Brazil and Mexico are gradually stimulating the demand for EV batteries, albeit from a lower base, as infrastructure develops.
- Middle East & Africa: Ambitious national visions for economic diversification and sustainability, coupled with significant government investments in smart cities and EV infrastructure, are driving exceptional growth. Countries like Saudi Arabia and the United Arab Emirates are actively incentivizing EV adoption, positioning the region as a rapidly expanding market for EV batteries.
The regional trajectories for the Middle-East Electric Vehicle Battery market highlight a clear distinction between mature markets and emerging powerhouses. While established regions like Asia Pacific and Europe continue to innovate and expand, the Middle East & Africa is rapidly catching up, driven by strategic national mandates and significant capital infusion. This dynamic creates unique strategic implications for battery suppliers, necessitating tailored market entry and growth strategies that account for varying regulatory environments, consumer preferences, and infrastructure development stages. Companies must focus on local partnerships, technology transfer, and adapting solutions to regional climate challenges to successfully penetrate and grow within these diverse and evolving markets.
Competitive Insights & Leading Companies
The Middle-East Electric Vehicle Battery competitive landscape is currently Moderately Consolidated, characterized by a mix of established global players and emerging regional manufacturers. International giants with extensive R&D capabilities and production scale, such as GS Yuasa Corporation and Tesla Inc., hold significant market shares, leveraging their technological superiority and brand recognition. Alongside these global entities, regional companies like Middle East Battery Company (MEBCO) and Mebco are focusing on localizing production, adapting products to regional climate conditions, and building strong distribution networks. Competitive intensity is high, with key players vying for market dominance through strategic pricing, enhancing product performance (e.g., energy density, charging speed, and cycle life), and securing robust supply chain agreements for critical raw materials. The market also sees competition in terms of after-sales service and warranty offerings, which are crucial for building consumer trust in a relatively nascent EV market. Furthermore, regulatory approvals and certifications play a vital role, as battery manufacturers must comply with evolving safety and performance standards mandated by regional governments to ensure market access and consumer confidence.
To differentiate themselves and gain a competitive edge, companies in the Middle-East Electric Vehicle Battery market are pursuing various strategic initiatives. Many are engaging in mergers and acquisitions or forming strategic partnerships with local entities to gain market access and leverage regional expertise, exemplified by collaborations between global battery makers and Middle Eastern industrial groups. Product launches focus on batteries optimized for high-temperature environments and fast-charging capabilities, crucial for the region's climate and consumer demands. R&D investments are directed towards advanced battery chemistries like solid-state technology, aiming for superior performance and safety. Localization of manufacturing facilities, as seen with some players, helps reduce import duties, logistics costs, and supply chain vulnerabilities, while also fostering local job creation. However, companies face challenges such as margin pressure due to intense competition and fluctuating raw material prices, as well as the need to comply with evolving environmental regulations and developing robust recycling solutions for spent batteries. Differentiation is also achieved through superior customer service, extended warranties, and the integration of smart battery management systems that enhance vehicle performance and longevity.
Middle-East Electric Vehicle Battery Key Companies
- East Penn Manufacturing Co. Inc
- C&D Technologies Inc.
- Exide Industries Ltd
- First National Battery Pty Ltd
- Middle East Battery Company (MEBCO)
- GS Yuasa Corporation
- Mebco
- Tesla Inc.
Middle-East Electric Vehicle Battery Market Ecosystem
Ecosystem Participants
- Battery Manufacturers — These companies are at the core of the ecosystem, responsible for the research, development, and mass production of EV battery cells and packs. They invest heavily in materials science, cell design, and manufacturing processes to enhance energy density, safety, and cost-effectiveness. Their role extends to ensuring quality control and meeting stringent automotive standards.
- This involves significant capital expenditure in giga-factories and establishing robust supply chains for raw materials, forming strategic partnerships with mining companies and material processors to secure stable input. Collaboration with OEMs is critical for battery integration.
- Vehicle OEMs (Original Equipment Manufacturers) — These are the automotive companies that design, assemble, and sell electric vehicles, integrating battery packs into their platforms. They collaborate closely with battery manufacturers to optimize battery performance for specific vehicle models, focusing on factors like range, charging speed, and vehicle dynamics. OEMs also play a crucial role in marketing and distributing EVs.
- Their involvement includes setting battery specifications, conducting extensive testing, and managing the end-of-life cycle for vehicle components, including batteries. They influence consumer perception and adoption through their product offerings and branding.
- Raw Material Suppliers — This segment comprises companies involved in the extraction, processing, and supply of essential raw materials for battery production, such as lithium, cobalt, nickel, manganese, and graphite. Their operations are critical for the entire value chain, influencing battery costs, availability, and environmental impact. Ethical sourcing and sustainable mining practices are increasingly important.
- These suppliers face challenges related to geopolitical stability, price volatility, and environmental regulations. Innovations in material science and recycling technologies are vital for ensuring a resilient and sustainable supply of these finite resources.
- Charging Infrastructure Providers — These companies develop, install, and operate charging stations and networks for electric vehicles. Their services are fundamental to addressing range anxiety and supporting widespread EV adoption. This includes public charging stations, home chargers, and commercial fleet charging solutions, often incorporating smart grid technologies.
- They focus on interoperability, payment systems, and the integration of renewable energy sources to provide convenient and sustainable charging solutions. Their expansion directly correlates with the growth of the EV market and battery usage.
- Government and Regulatory Bodies — These entities establish policies, regulations, and incentives that shape the EV and battery market. Their roles include setting emission standards, providing subsidies for EV purchases and charging infrastructure, promoting battery recycling, and funding R&D. They create the framework for sustainable growth and ensure market stability.
- They influence investment decisions, consumer behavior, and technological development through their strategic initiatives and long-term vision for electric mobility. International collaborations on standards and trade also fall under their purview.
- Battery Recycling and Second-Life Providers — These companies specialize in collecting, disassembling, and recycling spent EV batteries to recover valuable materials, or repurposing them for second-life applications like stationary energy storage. Their role is crucial for environmental sustainability and creating a circular economy for battery materials.
- This segment addresses the environmental impact of battery waste and reduces reliance on new raw material extraction. Developing efficient and cost-effective recycling processes is a key focus, along with creating viable markets for repurposed batteries.
- Research and Development Institutions — Universities, national laboratories, and private research firms contribute significantly to advancing battery technology. They focus on fundamental science, new material discovery, cell chemistry improvements, and manufacturing innovations that drive the next generation of EV batteries. Their work underpins future market growth.
- These institutions often collaborate with manufacturers and governments to translate scientific breakthroughs into commercial products. Their efforts are essential for enhancing battery performance, safety, and reducing costs, ultimately impacting the entire ecosystem's evolution.
Report Coverage & Key Deliverables
The report delivers a comprehensive analysis of the Middle-East Electric Vehicle Battery, combining quantitative data with qualitative insights. This study provides an in-depth examination of market trends, growth drivers, restraints, opportunities, and challenges shaping the industry landscape across the Middle East. It offers a detailed market forecast, enabling stakeholders to make informed strategic decisions regarding investment, market entry, and expansion plans. The report's scope extends to a thorough competitive landscape assessment, profiling key players and their strategic initiatives, alongside an intricate breakdown of market segmentation by battery type, vehicle type, and geography. Designed for business leaders, investors, and policymakers, this research serves as an essential guide to understanding the complex dynamics of the Middle-East Electric Vehicle Battery market, identifying lucrative avenues for growth, and anticipating future industry shifts. It provides a holistic view of the market's current state and its projected trajectory, offering actionable intelligence to navigate this rapidly evolving sector.
Report Coverage
- Market Size Estimates (historical and forecast)
- This section provides precise market valuation data from 2021 (historical baseline) through 2033 (forecast end), offering both current market size and future projections. Our methodology integrates primary research with robust secondary data analysis, triangulating insights from industry experts, company reports, and credible databases to ensure accuracy and reliability.
- Detailed Segmentation And Revenue Analysis
- The report meticulously segments the Middle-East Electric Vehicle Battery market by battery type (e.g., Lithium-ion, Solid-state), vehicle type (e.g., Passenger Cars, Commercial Vehicles), and key geographical regions. Each segment's revenue contribution and growth trajectory are analyzed, providing a granular view of market dynamics and identifying high-growth sub-sectors for targeted investment.
- Regional And Country-Level Insights
- A comprehensive regional analysis covers Saudi Arabia, the United Arab Emirates, Oman, and the Rest of Middle-East, detailing market maturity, growth drivers, and regulatory frameworks specific to each area. This allows businesses to understand regional disparities, localize strategies, and identify emerging hotspots for market penetration and expansion.
- Competitive Benchmarking Of Key Players
- This section offers an in-depth assessment of the competitive landscape, profiling leading companies based on their market share, product portfolios, strategic initiatives (e.g., M&A, partnerships, R&D investments), and geographical presence. It provides critical insights into their strengths, weaknesses, opportunities, and threats, enabling strategic competitive positioning.
- Customization Options Based on Specific Requirements
- We offer flexible customization services to tailor the report's scope, depth, and format to meet specific client needs. This includes detailed analysis of additional countries, specific market segments, deeper dives into competitive strategies, or bespoke data cuts, ensuring the research directly addresses unique business intelligence requirements.
Recent Industry Insights
The Middle-East Electric Vehicle Battery industry trends reflect a period of accelerated growth and strategic maneuvering over the last 12-18 months. Governments across the region have intensified their commitment to electric mobility, translating into new policies and significant infrastructure investments. This has spurred a wave of partnerships between global battery manufacturers and local enterprises, aimed at localizing production and building resilient supply chains. Product launches have focused on advanced battery chemistries and solutions optimized for the challenging Middle Eastern climate, emphasizing enhanced thermal management and fast-charging capabilities. Consumer and enterprise trends indicate a growing acceptance of EVs, driven by increasing environmental awareness and the long-term economic benefits of electric fleets. Funding rounds and expansions have supported the development of new manufacturing facilities and R&D centers, positioning the Middle East as a crucial hub in the global EV battery ecosystem.
Key Market Developments
- October 2024: Saudi Arabia announced new incentives for EV manufacturing and battery production, aiming to attract global players to establish local facilities and bolster its position in the electric mobility value chain.
- August 2024: Tesla Inc. reportedly explored potential partnerships with Middle Eastern investment funds to expand its battery supply chain and potentially establish a regional gigafactory, signaling growing interest in the market.
- June 2024: Middle East Battery Company (MEBCO) unveiled a new line of high-performance lithium-ion batteries specifically designed for extreme temperatures, targeting the unique operational demands of the region's commercial EV segment.
- March 2024: The United Arab Emirates launched a comprehensive national strategy for EV charging infrastructure, committing to a substantial increase in public and private charging points across major cities by 2028, directly supporting battery demand.
- January 2024: GS Yuasa Corporation announced a joint venture with a local conglomerate in Oman to explore battery assembly and distribution opportunities, leveraging regional expertise and market access.
Analyst Opinion
Analysts concur that the Middle-East Electric Vehicle Battery market outlook is exceptionally positive, driven by unparalleled government backing and a clear strategic vision for economic diversification. The market's attractiveness stems from substantial capital investments in infrastructure and manufacturing, coupled with a nascent but rapidly expanding consumer base for electric vehicles. While the competitive intensity is currently Moderately Consolidated, the influx of new players and localized production initiatives suggests a shift towards increased fragmentation in the long term. The demand-supply balance is currently leaning towards demand outstripping local supply, creating significant opportunities for international battery manufacturers to establish a strong regional presence. However, securing a stable and ethical supply of critical raw materials remains a crucial factor influencing market dynamics. The region's commitment to sustainability and smart city development provides a robust foundation for sustained growth, making it a compelling market for strategic investments and technological innovation in the EV battery sector.
Looking ahead, the long-term outlook for the Middle-East Electric Vehicle Battery market is characterized by continuous innovation and strategic localization. The innovation landscape will be shaped by advancements in solid-state battery technology, which promises enhanced safety and energy density, potentially disrupting current lithium-ion dominance. Key risk factors include geopolitical instabilities impacting raw material supply chains, the pace of charging infrastructure deployment, and the ability to attract and retain skilled labor for advanced manufacturing. However, the proactive government policies, coupled with significant sovereign wealth fund investments, are expected to mitigate many of these risks. Companies that prioritize local partnerships, invest in R&D tailored to regional conditions (e.g., high-temperature performance), and develop comprehensive recycling solutions will be best positioned for long-term success, capitalizing on the Middle East's ambition to become a global leader in sustainable mobility.