In 2024, the projected revenue in the Electric Vehicles market in Egypt is expected to reach US$4.9m. Looking ahead, the revenue is anticipated to exhibit an annual growth rate (CAGR...
(intermediaries) to identify existing market barriers faced for the proliferation of electric vehicles and charging stations. Review and summarise the current state of the e-mobility market in Egypt providing statistics on electric vehicles (demand and supply), charging stations, private and public sector players etc.
In October 2023, Minister of Finance stated that the government would bear 35% of costs for EV production per vehicle to support local manufacturers. With these new positive interventions, Egypt''s EV market is looking positive for years ahead.
Learn about the latest New Electric Cars models and Electric Car prices in Egypt, Cairo, Alexandria, Giza. Read insightful New Electric Car reviews and browse Electric Car photos. EGYPT
In October, Mohamed Maait, Egypt''s Minister of Finance, specified that the government would bear 35 percent of costs for EV production per vehicle to support local manufacturers. Egypt aims to increase its green investments to 50 percent of the country''s total investments by FY2024/2025, he added.
Egypt''s electric vehicle (EV) transition preparedness was ranked 28th out of 35 countries studied in the new Global Electric Mobility Readiness Index (GEMRIX) 2023 by US consulting firm Arthur D. Little
Egypt’s electric vehicle (EV) transition preparedness was ranked 28th out of 35 countries studied in the new Global Electric Mobility Readiness Index (GEMRIX) 2023 by US consulting firm Arthur D. Little. It was categorized as a starter market after scoring 32 points out of 100.
“Despite the relatively low presence of EVs, the [Egyptian] government has been expressing strong ambitions to push for the promotion of EVs. A key reason for this ambition is the government’s commitment to achieving its sustainable development goals, which are elaborated in Egypt Vision 2030,” explained the report.
Showcasing MENA’s efforts in developing the regional e-mobility scene, the report assessed 13 countries, with Egypt ranking 10th in the Middle East.
A starter market was defined as a market with significant potential for new start-up-style entrants and early infrastructure development in a “blue ocean environment.” The report added that many of the starter markets would have some progress in establishing local EV manufacturers and an EV ecosystem.
Egypt ranked the highest in the government regulation category, with the report noting that the country’s ban on traditional petrol and diesel cars by 2040 highlights a positive outlook for the e-mobility market.
The ban is part of the country’s Vision 2030 strategy which targets a 10% reduction of greenhouse emissions from the energy sector, including oil and gas, by 2030.
The Egyptian parliament approved the creation of a new regulatory authority, the Supreme Council for Vehicle Manufacturing, responsible for setting up a new policy for the local automotive industry in July 2023 as part of efforts to improve local production.
Earlier this month, Minister of Finance stated that the government would bear 35% of costs for EV production per vehicle to support local manufacturers. Egypt aims to increase its green investments to 50% of the country’s total investments by FY2024/2025, he added.
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By Omnia Farrag
The Egyptian electric car market has witnessed significant developments in 2018. In February, the country''s first electric vehicle charging station opened at a state-owned Wataniya gas station on the Cairo-Suez highway. Two months later, BMW distributor Bavarian Auto presented the BMWi, the first electric car to be exhibited in Egypt. The car will be available in the Egyptian market in less than a year, Mohammad El Ghazaly Harb, Marketing and Product Manager at BMW Egypt, told Egypt Oil & Gas.
The electric vehicles technology company Revolta Egypt owns the Wataneya charging station. The company now has 17 charging stations in the country, according to Badawi. Revolta Egypt has ambitious plans to cover almost all of Egypt within the coming two years. "By the end of 2018, we aim to have 65 charging units in seven governorates, including Cairo, Giza, Alexandria, Port Said, Ismailia, Suez, and the Red Sea. Then, in 2019, we will cover the whole Delta and, in 2020, we will cover Upper Egypt and South Sinai," he explained. Badawi further disclosed that "The first batch of e-cars will be available for purchase by the end of June or the beginning of July," and the company plans to sell at least 250 cars within 2018.
Household and commercial electricity prices also increased in July 2017, and, according to government, plans prices will increase further in FY 2018/19 after the government halves electricity subsidies. While it is not yet clear how the cuts will be apportioned between the household and commercial sectors, private sector companies – such as charging station operators – are likely to pass any electricity price increases onto the consumer, making it more expensive to charge an electric car.
Badawi said that the cost of fully charging the battery of an electric vehicle depends on its model, but the average is currently EGP 50. "How long the battery lasts varies from a model to another, but it ranges from 150 km to 600 km," Badawi explained. He added that Revolta will offer two years of free charging to all its new customers. The price quoted by Badawi is significantly cheaper than gas-powered cars. It costs an average EGP 225 to fill a car running on 92-octane benzene in comparison.
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