The first phase of the plan to establish electricity charging stations includes around 3,000 stations in three governorates
Egypt’s Ministry of Public Business Sector is in the process of negotiating the signing of a contract for electric vehicle production with one of three companies, revealed Minister Hisham Tawfik.
Speaking to the press on the sideline of the 7th CEO conference on Sunday, the minister stated that the government has finished establishing incentives for electric vehicles (EV), such as greener preparations, financial support for EV buyers, in addition to subsidizing the price of electricity.
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The first phase of the plan to establish electricity charging stations includes around 3,000 stations in three governorates, with Tawfik revealing that a new company will be established to manage these stations in partnership with a sovereign company with a 90% share.
In November, the Egyptian Ministry of Public Business Sector announced that negotiations with the Chinese “Dongfeng” company to produce the electric car “E70” had stopped as a result of the failure to reach an agreement with the Chinese company to reduce the price of the imported component sufficiently to enable Nasr Automotive Company to produce and launch the car at a competitive price.
It stated at the time that it would, in cooperation with the Holding Company for Metallurgical Industries and the Nasr Automobile Company, open new channels of communication with one of the specialized global consulting offices to identify an alternative partner, and it is expected that positive results will be reached before the end of November.
It is noteworthy that Egypt signed the framework agreement with the Chinese company, Dongfeng, to produce the E70 car, in January 2021, after a series of negotiations that took more time than expected due to the emergence of the Corona epidemic at the beginning of 2020.
