ArabFinance: Egypt’s Trade Ministry decided to stop importing used electric vehicles (EVs) in a move to boost local EV assembly, according to a recent statement by the ministry.
The ministry asserted that imported EVs must be the latest model.
The decision aims to spur the development of a local EV industry in cooperation with major international auto companies.
In April, Minister of Public Business Sector Hisham Tawfik said that Egypt plans to build 3,000 dual EV stations in line with the directives of President Abdel Fattah el Sisi.
El Nasr Automotive Manufacturing Company is expected to start manufacturing electric cars (Nasr E70) by mid-2022.
Nasr E70 cars will save about EGP 200,000 in costs over 300,000 kilometres compared to a car running on 92-octane gasoline.
Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).