NewsNorth AfricaElectric car-charging stations make their way to Egypt

Sat,15Dec2018

Posted on Thursday, 22 February 2018 15:31

Electric car-charging stations make their way to Egypt

By Reuters

Security guards run alongside the electric car of Egypt's ex-President Hosni Mubarak at the G8 summit in L'Aquila, Italy on July 9, 2009. Photo: Markus Schreiber/AP/SIPAAn Egyptian company has introduced 65 electric car-charging stations across the Arab world's most populous country, giving commuters a chance to opt for clean energy.

The stations were developed by 'Revolta', which has been studying the move and the necessary infrastructure since 2015.

The company launched the stations in February in its first round and plans to reach 300 stations by 2020.

Each station costs roughly 700,000 to 1 million Egyptian pounds ($39,606 to 56,580) to manufacture.

Less money to charge

While the prices of electric cars are still much more expensive than regular fuel-operated vehicles, Revolta has plans with the Egyptian trade ministry to ease the financial burden of buying Teslas and Hyundais, making them more affordable for mass consumption.

According to Revolta's Chief Executive, Mohamed Badawy, the company aims to offer electric cars for 250,000 Egyptian pounds ($14,145).

The move comes as many Egyptians still struggle with high prices after the government introduced a series of austerity measures to secure a $12bn International Monetary Fund (IMF) loan deal.

Some of these measures included lifting subsidies on fuel. As a result, Egyptian car owners may spend hundreds of Egyptian pounds to fill up their tanks, but electric cars cost much less to charge.

The cost of fully charging an electric vehicle ranges from 50 to 60 Egyptian pounds ($2.83-3.39), and cars can cover a distance of 250 to 320 kilometres, Badawy said.

After Egypt floated the currency in November 2016 the Egyptian pound lost nearly half its value.

The government hopes that the reforms will help kickstart its ailing economy, after a popular uprising in 2011 drove tourists and foreign investors away.



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