A new study by Tata Consultancy Services (TCS) reveals that more than 64 per cent of consumers are likely or very likely to consider an electric vehicle (EV) for their next purchase in 2025.

For over two decades, TCS has been a strategic partner to original equipment manufacturers (OEMs), supporting their transition from ICE to EV technology. The company has helped deploy battery management system (BMS) software for over 500,000 EVs globally and assisted in establishing EV charging infrastructure across 75-plus countries for OEMs.

The study, which surveyed over 1,300 stakeholders across North America, the UK and Ireland, Continental Europe, and the Asia-Pacific (APAC) region, highlights key trends shaping the future of sustainable mobility.

The findings were published in the TCS Future-Ready eMobility Study 2025, and released at the Detroit Auto Show in Michigan, US.

Key findings of the report show a growing preference for EVs

While enthusiasm for EVs continues to grow, the report also identifies significant barriers to adoption, including concerns about charging infrastructure and vehicle costs.

“The future of mobility is electric, connected, and sustainable — a transformation that will redefine industries and communities alike,” said Earl Newsome, global chief information officer at Cummins, one of the participants in the study. “The report provides a powerful lens into the challenges and opportunities shaping this journey, emphasizing the critical roles of resilience, innovation, and collaboration.”

Sustainability and cost savings remain the primary drivers for consumers opting for EVs.

However, 60 per cent of consumers cited charging infrastructure as a significant hurdle. On the other hand, 56 per cent expressed willingness to pay up to $40,000 for an EV.

Despite these challenges, 53 per cent of commercial fleet adopters are optimistic about EV adoption, driven by lower operational costs compared to traditional internal combustion engine (ICE) vehicles.

“The electric vehicle industry is at a defining crossroads, navigating the complexities of scale and transformation,” said Anupam Singhal, president of Manufacturing at TCS. “While nearly two-thirds of consumers are open to choosing electric for their next vehicle, manufacturers face challenges like advancing battery technology, complex vehicle designs, and production economics.”

Addressing the key challenges, the study found that 74 per cent of EV manufacturers view inadequate charging networks as the biggest barrier to industry growth.

However, 55 per cent of manufacturers have already started investing in battery technology innovation, while 78 per cent are focusing on cost reduction to make EVs more accessible to consumers.

Additionally, 90 per cent of manufacturers believe improvements in battery technology will significantly enhance the range and charging speed of EVs shortly.

Read: UAE to install over 500 EV charging stations by year’s end

The UAE, represented by the Ministry of Finance, hosted the inaugural UAE-Russia Strategic Financial Dialogue in Abu Dhabi on February 17.

The forum, aimed at strengthening cooperation across various financial and economic sectors, provided a platform to discuss best practices in budget preparation, public-private partnerships, and tax cooperation.

The UAE delegation was led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, alongside senior officials from the Ministry of Finance.

From Russia, the delegation was headed by Anton Siluanov, Minister of Finance, and included several senior officials.

Sharing knowledge between UAE and Russia

In his opening remarks, Al Hussaini welcomed the Russian delegation, emphasising the UAE’s ongoing efforts to enhance financial and investment cooperation through the exchange of expertise and the development of joint financial policies.

“The UAE-Russian partnership serves as a model for sustainable economic cooperation. We are committed to strengthening mutual investments and financial collaboration, ensuring the continuous development of modern budgeting mechanisms, stimulating public-private partnerships, and fostering tax cooperation,” said Al Hussaini.

He highlighted that the UAE is strengthening its position as a global financial hub by forging strategic partnerships with major economies, enhancing the resilience of the national economy and creating avenues for future growth.

Anton Siluanov, Minister of Finance of Russia, also addressed the forum, underlining the significance of the dialogue in expanding bilateral relations and cooperation between the two nations.

“Holding the first Strategic Financial Dialogue between Russia and the UAE reflects the strength of relations between our two countries and our shared commitment to broadening cooperation. Our perspectives align on key financial development matters, including the enhancement and digitalisation of budgeting mechanisms, as well as the exchange of best practices in public-private partnerships,” stated Siluanov.

Key deal signed between UAE-Russia to prevent double taxation

The forum also saw the signing of a key agreement to prevent double taxation, which aims to strengthen bilateral trade, attract investment, and promote a transparent and competitive tax environment between the two countries.

The agreement, signed by Al Hussaini and Siluanov, is expected to boost trade, increase investment flows, and create a more favourable business climate for both nations.

Al Hussaini also emphasised that the signing of the Double Taxation Avoidance Agreement with Russia further underscores the UAE’s commitment to fostering an investment-friendly environment.

In addition to the signing ceremony, the forum included four key panel discussions that explored critical areas of financial cooperation.

Topics included budget preparation, the integration of modern technologies in financial planning, public-private partnerships, and international tax policies.

The discussions also addressed developments in global taxation, trends in regulatory frameworks, and the importance of strengthening cooperation within multilateral financial frameworks.

Read: UAE Ministry of Finance unveils key new projects to boost competitiveness

Following a strong performance in 2024, Dubai’s prime residential market is expected to continue its upward trajectory in 2025, with capital values forecast to grow by up to 9.9 per cent, according to the latest research from global real estate consultancy Savills.

The Savills Prime Residential World Cities Index revealed that Dubai’s prime residential capital values rose by 6.8 per cent in 2024, cementing the emirate’s status as a global investment hub. In addition, Dubai saw a remarkable 23.5 per cent growth in rental prices last year, driven by continued demand for luxury living.

The growth is fueled by an increasing population and a steady influx of high-net-worth individuals and family offices into the UAE. Despite new supply entering the market, Dubai’s luxury segment continues to evolve, with several ultra-luxury projects redefining the market’s understanding of “prime.”

A strong year for Dubai’s prime residential property segment

In 2025, Savills projects Dubai to lead global prime residential price growth, with capital values expected to rise by 8 to 9.9 per cent, the highest among 30 global cities tracked in the index. The city is also predicted to experience the strongest rental growth, with a projected increase of more than 10 per cent.

Globally, Savills forecasts an average price growth of 1.6 per cent across the 30 cities monitored, a slight decline from the 2.2 per cent recorded in 2024. This indicates a more cautious outlook for global prime property markets.

“Despite recent economic turbulence, prime residential markets have shown remarkable resilience,” said Kelcie Sellers, associate director at Savills World Research. “With 2024 deemed the ‘year of elections,’ 2025 will be a period where new governments begin to implement changes that could affect prime residential markets across the globe.”

Andrew Cummings, head of Residential Agency at Savills Middle East, added, “Dubai’s prime residential sector continues to thrive, with demand outpacing supply in the city’s most sought-after communities. The strong rental performance and capital appreciation are making Dubai an increasingly attractive destination for global investors. We expect further momentum in 2025, with high-value transactions and new ultra-luxury developments reshaping the city’s real estate landscape.”

Read Real estate trends in 2025: Dubai developers share insights

Highly attractive to investors

Dubai’s prime residential market remains highly attractive to investors and residents alike, bolstered by expanding job opportunities, major infrastructure projects, and government-led initiatives. International buyers are often opting to rent before purchasing, contributing to the surge in rental prices in 2024 and further establishing Dubai as a luxury living destination.

Looking forward, Cummings concluded, “Dubai’s property market is expected to maintain its upward momentum in 2025, surpassing global markets like London, Hong Kong and New York. The demand for branded residences, waterfront developments, and sustainable luxury homes positions the city as a leading global hub for prime residential investment.”

Savills World Cities Prime Residential Index: 2025 capital value growth Forecast versus 2024 growth

Download the full World Cities Prime Residential 2025 report here.

The Road and Transport Authority (RTA) in Dubai is providing 4,400 additional parking spots for visitors to Gulfood 2025, taking place from February 17 to 21, 2025.

These parking spaces will be available at various locations, including Al Jafiliya, Al Kifaf, Zabeel (near Dubai Mall), and Al Wasl Club.

Read: Dubai’s RTA unveils ‘fourth-generation’ traditional abras

Directional signs will be in place to guide visitors to alternative parking areas, ensuring a smooth and convenient experience.

To facilitate smooth traffic flow around the Dubai World Trade Centre, the RTA is also offering free shuttle buses that will transfer visitors directly to the event.

Dubai-based Huda Beauty will sell its popular fragrance brand KAYALI to its co-founder and General Atlantic in a move that allows the beauty company’s owners to buy back a stake held by TSG Consumer Partners since 2017, according to a joint statement by the three companies on Monday.

Founded by blogger Huda Kattan and sisters Mona and Alya in 2018, Huda Beauty sells everything from luxury eyelashes to makeup and skincare products. The company has more than 54.2 million followers on Instagram, well ahead of rivals Rare Beauty and Kylie Cosmetics which have 8 million and 24.7 million followers respectively.

“Huda Beauty is making history as one of the few established beauty brands to return to full founder ownership,” the statement said.

KAYALI founder Mona Kattan will own the fast-growing fragrance business with private equity investor General Atlantic, the statement said. KAYALI will operate as an independent company and Mona will remain as CEO, it added.

A value for the deal, which is subject to regulatory approval, was not disclosed.

Goldman Sachs International acted as Huda Beauty’s financial advisor, and Gibson Dunn served as its legal advisor. Skadden, Arps, Slate, Meagher & Flom served as Mona Kattan’s legal advisor.

Raymond James served as General Atlantic’s financial advisor, and Latham & Watkins served as its legal advisor.

View this post on Instagram

A post shared by HUDA BEAUTY (@hudabeauty)