Business Today - Dec 2022 - Jan 2023 issue

Opinion
government accelerates its strategy to increase
locally produced green energy — with the expectation
of lowering energy prices — with international
studies revealing that even with rising
electricity and energy prices, EVs remain the
most cost-effective choice over time.
On that note, we must continue to encourage
the government to develop more incentives and
financial schemes to support Egypt’s EV revolution
by, for example, subsidizing or standardizing
the sales of EVs — for both the average consumer
and to businesses.
Electrification will play an important role in
transforming the mobility industry and reducing
the burden of rising fuel prices on the average
citizen. To accelerate the widespread use
of e-mobility and EVs, launching new EVs into
the market is a vital step as well as alleviating the
anxiety around EVs.
In the next three years Mansour Automotive
plans to locally assemble/manufacture affordable
EV in Egypt. We also introduced high-end
EVs to Egypt during COP27, in which Mansour
was the exclusive mobility principal partner and
provided 150 EVs — including electric Cadillacs
which will be available in Egypt by the end
of next year — for the conference as part of its
agenda to reduce the event’s carbon emission.
There is no way around stating that the transportation
sector needs to build its capacities to
transition to electric modes of transport, particularly
as the global energy crisis and inflationary
pressures have led to skyrocketing prices of traditional
fuel. However, we feel that this transition
will enable Egyptians to save money, protect the
environment, and progress as a nation.
www.BusinessTodayEgypt.com December 2022
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