Gov’t working on incentives to promote electric vehicles; Mercedes delegation due for visit “soon”
REGULATION WATCH- Gov’t working on incentives to promote electric vehicles: The government is working on a new policy framework to encourage the use of electric vehicles (EVs) based on instructions from President Abdel Fattah El Sisi, according to a Cabinet statement. The framework will include financial incentives to convince international EV assemblers and manufacturers to set up shop in Egypt. Prime Minister Moustafa Madbouly has also directed his government make certain charging docks are installed in new cities and in select gas stations around the country.
There’s reason to level up EV infrastructure: The statement notes that that Germany’s Federal Minister of Economic Cooperation, Gerd Müller, will be in Egypt soon with a delegation that includes a team from Mercedes-Benz. The carmaker expressed interest in assembling EVs in Egypt during a meeting held last month between El Sisi and senior Mercedes-Benz global exec Markus Schaefer. The company also announced last week its likely return to passenger car assembly in Egypt after a years-long hiatus.
El Sisi’s directive stresses natgas as a substitute for fuel oil: The government is also looking to promote natural gas-powered vehicles, saying it will be easier on the state’s fuel subsidy bill than standard fuels. Some 260k vehicles are running on natgas today, the government said, and the Oil Ministry is also working alongside the SMEs Development Authority to convert 10k passenger cars and taxis to natgas through state-owned Natural Gas Vehicles Company (Cargas) and Gastec.