Wednesday February 8th, 2023
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Upper Egypt to Receive EGP 60 Million in Investments for Electric Vehicle Charging Stations

Adios, crazy gas prices.

Staff Writer

Developer of electric vehicles and related projects, Revolta Egypt, are to invest EGP 60 million in building new electric vehicle charging stations in Upper Egypt’s governorates says the company’s chief of business development sector Ezz El-Din Ibrahim.

Revolta Egypt, founded in 2016, has invested EGP 80 million in the Egyptian market so far into building 130 electric charging points in 18 Egyptian cities. Aiming to increase the number of charging stations to more than 300, the company would cover about 90% of Egypt’s main roads.

CEO of Revolta Egypt, Mohamed Badawy, had said the company's operating stations span across 10 Egyptian governorates, including Cairo, Red Sea, Southern Sinai and Alexandria. Its expansion plans are forecast to cost EGP 100 million in investments.

In March, Trade Minister Tarek Kabil issued a decision allowing the import of used electric cars, on condition that they are no more than three years old. Since the general rules for importing cars don't allow the import of used cars, an exception was made to encourage the use of the environmentally-friendly vehicles.

Main image courtesy of Revolta Egypt