Professor of constitutional law, Abdullah al-Moghazi, said on Monday that March will witness the launch of the first Egyptian electric car.
During an interview with the privately-owned Sada al-Balad channel, Moghazi said that the government is interested in expanding clean energy projects.
This comes especially in light of Egypt’s readiness to organize the climate conference COP27 this year.
He stressed the importance of having a ministerial portfolio for investment during the next government formation.
Moghazi added that ” the Egyptian President Abdel Fattah al-Sisi is racing against time to localize the electric car industry,” noting that the interest in industrial zones contributes to boosting foreign investments.
A national investment conglomerate announced in January a new prototype electric car that will be introduced into the Egyptian market in hope of reducing the unlicensed tuk-tuks within the country.
The car which has a local component of 45 percent, is being offered at a low cost to encourage the replacement of tuk-tuks.
The car will be made available for purchase in installments, in cooperation with a number banks such as Agricultural Bank of Egypt, the National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB).
The conglomerate involved in the project includes EG Gate, a company of the Tahya Misr (Long Live Egypt) Fund, and Dolibaat Egypt for electric cars, in cooperation with an Interior Ministry company.
Dolibaat Egypt, headed by Mohamed Najah, manufactures electric cars with a 45 percent local component in cooperation with major factories and national authorities.
The company has recently signed with Egypt’s Engineers Syndicate protocols.
This is in order to establish 28 training centers in the country to train engineers and technicians to work with electric cars, in addition to establishing 400 to 1000 service and maintenance centers and charging points.