The statement highlighted that two participating companies have recently accepted nearly 1,200 requests for allocating new local vehicles to those who meet the requirements for bank financing.
The state treasury has shouldered the cost of providing green incentives amounting to 670 million Egyptian pounds for 27,000 new natural gas-powered vehicles - File Photo
In a commitment to promote the replacement of vehicles aged 20 years or more, the Presidential Initiative for Replacing Aging Vehicles has affirmed its dedication to operate in accordance with the prescribed conditions and procedures.
The initiative aims to replace these older vehicles with new ones powered by natural gas in 15 governorates, including Ismailia, Sharqia, Beheira, Beni Suef, Sohag, Luxor, Aswan, Cairo, Giza, Alexandria, Qalyubia, Port Said, Suez, Red Sea, and South Sinai. This effort seeks to facilitate citizens' ownership of new, eco-friendly vehicles.
According to a statement issued by the Presidential Initiative for Replacing Aging Vehicles, five local companies are offering competitively priced domestically produced cars powered by natural gas under the initiative's umbrella.
The statement highlighted that two participating companies have recently accepted nearly 1,200 requests for allocating new local vehicles to those who meet the requirements for bank financing, while other companies are actively working to overcome the challenges they face.
Furthermore, the statement mentioned ongoing coordination with Egyptian companies specializing in electric vehicles to include them in the initiative. This move aims to have a positive impact on employment economies and mitigate air pollution, harmful carbon emissions, and related health risks.
The statement emphasized that the state treasury has shouldered the cost of providing green incentives amounting to 670 million Egyptian pounds for 27,000 new natural gas-powered vehicles delivered to eligible citizens, as a replacement for their outdated vehicles.
Acknowledging the impact of the global crisis on car prices due to disruptions in global supply chains, the statement expressed understanding while noting that the initiative's prices remain lower than market prices, ultimately benefiting citizens.
To ensure effective implementation of the initiative, citizens from Sharqia and Beni Suef governorates who have submitted replacement requests for their aging vehicles have been allowed to dispose of them at the main square in Greater Cairo's Abu Rawash area. Similarly, citizens from Ismailia have been permitted to dispose of their vehicles at the square in Suez Governorate. These arrangements aim to expedite the process of citizens obtaining their new cars, with dedicated squares being prepared for Sharqia and Ismailia governorates.
The Presidential Initiative for Replacing Aging Vehicles has made remarkable progress in promoting sustainable transportation and environmental preservation. The initiative's efforts align with the national agenda to enhance air quality, reduce carbon emissions, and create a greener future for Egypt.
By facilitating access to new, eco-friendly vehicles, the initiative not only addresses environmental concerns but also stimulates economic growth by boosting domestic production and supporting local industries. Furthermore, the initiative contributes to job creation and enhances citizens' quality of life through safer and more reliable transportation options.
