Cabinet Information Center Reviews Electric Cars Industry at Local, Int'l LevelsSource: www.export-egypt.com 2/19/2023, Location: Africa |
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The Cabinet Information Center reviewed major incentives offered to localize the electric vehicles industry, including 2 percent fixed custom fees on imported equipment.
This came in a research paper under the title of "localizing electric cars industries…chances and challenges" within the framework of "our youth backs our decisions" periodicals. The research paper aims at shedding light on the conditions of the e-vehicles industry worldwide, challenges and future visions. The paper highlighted the challenges besetting Egypt's localization of the electric vehicle industry, especially as Nasr company will produce the first Egyptian electric vehicle. The paper said the cabinet is mulling securing additional incentives to encourage the local industry, including 50,000 pounds support for the first 100,000 locally-made electric cars. Public sector companies are committed to annually replace 5 percent of their vehicles by locally-made electric ones. The paper referred also to a program for financing the purchase of electric taxi and another financing program for getting private e-cars. The paper also highlighted a decision by the trade minister in March 2018 to exempt from taxes all imported electric cars that were used for less than three years. The paper underscored also a decision by President Abdel Fattah El Sisi to encourage the local assembly of electric cars. This falls within the framework of the Egyptian state's interest in depending on clean energy through using electric or natural gas-powered vehicles. Within this context, the Ministry of Military Production collaborated with the Manufacturing Commercial Vehicles (MCV) to promote manufacturing electric buses and turning to using alternative fuel and electricity by 60 percent. |
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