How about we replace Tuk-Tuks for a bit? A new electric car will now be integrated into the Egyptian market with the hope of reducing the unlicensed Tuk-Tuks within the country. The electric car, which has a local component making up 45% of it, is being offered at a low cost to encourage the replacement of Tuk-Tuks. One of the companies that participated in the project include EG Gate, a company affiliated with the Tahya Misr Fund. Dolibaat Egypt for electric cars has also cooperated with a company of the Interior Ministry.
The car will be made available for purchase through installments and in cooperation with a number of banks. These banks include the Agricultural Bank of Egypt, the National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB). However, that’s not all! Dolibaat Egypt, headed by Mohamed Najah, signed with Egypt’s Engineers Syndicate protocols to establish 28 training centers in the country. The aim of these centers are in training engineers and technicians in order to work with electric cars. In addition, there will be between 400-1000 services, maintenance centers, and charging points available. Seems like our future is getting electric, wouldn’t you say?
One of the main factors behind launching such a project is due to the hopeful advantage as an economic boost to the country. This applies not only to the buyers, but to the state as a whole. A few years ago, the country sought to revive its local automotive market, including signing an MoU with Mercedez-Benz to develop an assembly factory situated in the Suez Canal Economic Zone.
On a side note, did you know that Egypt has the 2nd largest automotive market in Africa, and the 42nd largest in the world?