Volatile fuel and gas prices are hurting consumers and businesses. This difficult time can be seen simply as a challenge, but it can also be seen as a clean energy tipping point and an opportunity to accelerate the adoption of electric vehicles. (EV) and EV culture, and electrification across the Egyptian mobility sector.
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Fear of the unknown, as well as major advancements and changes in the nation’s lifestyle, have made Egypt a prime candidate for compulsory vehicle insurance, given that there are only 380 EVs registered in the country as of February 2022. A lot of uncertainty and anxiety, according to the group’s report.
However, public hesitance towards EVs is multi-faceted and there are key factors and misconceptions that need to be addressed in order to further strengthen Egypt’s EV revolution and encourage the average consumer’s use of EVs. It is important to note that
Charging convenience is currently the biggest concern for those interested in EVs, with range anxiety somewhat skewing decision-making. Journey. In fact, the latest advances in battery technology have actually extended that range beyond his 300km, making the development and expansion of a sufficient EV charging station infrastructure a real challenge.
For consumers to switch to EVs, they need the confidence and knowledge to come across charging stations as often as they would traditional gas stations.
As Egypt prepares to transition to e-mobility, EV charging stations will grow exponentially in just a few years, reaching 3,000 EV charging stations by the end of 2023. Egypt will also produce its first electric vehicles by next year as part of its electrification strategy.
From an economic point of view, consumers tend to think there is a big trade-off between protecting the environment and saving money, especially in the current business climate, where even traditional car sales are plummeting, while EVs saves a lot of driving and fuel. cost.
This will become more prevalent as governments accelerate strategies to increase locally produced green energy in hopes of falling energy prices, and international studies show that even with rising electricity and energy prices, EVs will continue to grow. It has proven to remain the most cost-effective option over time.
In that regard, we must continue to push the government to develop more incentives and financial schemes to support Egypt’s EV revolution.
Electrification will play a key role in transforming the mobility industry and relieving the average citizen of the burden of rising fuel prices. To accelerate the adoption of e-mobility and EVs, bringing new EVs to market is an important step beyond alleviating EV fears.
Over the next three years, Mansour Automotive plans to locally assemble/manufacture affordable EVs in Egypt. It also introduced high-end EVs to Egypt at the recently concluded UN Conference of Parties (COP27) on climate change held in Sharm el-Sheikh in November. Mansour was the exclusive Mobility Principal Partner and provided 150 EVs, including electric. Cadillac, which is expected to be available in Egypt by the end of next year, will be used for the conference as part of the agenda to reduce the event’s carbon footprint.
It is inevitable to state the need for the transport sector to build capacity to shift to electric modes of transport, especially as the global energy crisis and inflationary pressures have made the prices of conventional fuels skyrocket. However, we feel that this transition will allow Egyptians to save money, protect the environment and progress as a nation.
* Ankush Arora is the CEO of Mansour Automotive.
