Bahrain: Insurers tackle EV issues

Source: Middle East Insurance Review | Aug 2024

Insurers in Bahrain are addressing the growing trend of electric vehicle (EV) ownership although the current number of such vehicles is less than 750 out of a population of 750,000 vehicles in the kingdom.

At the inaugural forum on EVs, organised by the Bahrain Insurance Association (BIA) on 6 May, experts said that the most important challenges facing the rising popularity of electric cars are their high prices compared to regular cars, the difficulty of reselling them, and the relatively long time they require to recharge, in addition to technical challenges related to the difference in chargers between one category of cars and another.

Speaking at the forum, Solidarity Bahrain CEO and BIA chairman Jawad Mohammed said that electric cars are the future of the global automobile industry, and this requires major changes to be made to the ecosystem.

He said that the BIA hoped that attendees of this forum would develop a national strategy for EVs in Bahrain by exploring the EV life cycle. M

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