{"id":582341,"date":"2023-03-07T00:00:00","date_gmt":"2023-03-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/"},"modified":"2023-03-07T00:00:00","modified_gmt":"2023-03-07T00:00:00","slug":"want-to-buy-an-ev-here-are-the-options","status":"publish","type":"goinggreen","link":"https:\/\/enterpriseam.com\/egypt\/goinggreens\/want-to-buy-an-ev-here-are-the-options\/","title":{"rendered":"Want to buy an EV? Here are the options"},"content":{"rendered":"

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<\/span>Want to buy an EV? <\/span>The electric vehicle industry in Egypt is still nascent \u2014 but <\/span>options are available if you want to buy a new EV today. Price tags are relatively high, maintenance and repairs can be a challenge, and charging infrastructure is spotty right now. But between the rapid global transition to EVs, a government-led drive to localize the industry and get the needed infrastructure in place, and rising demand among a certain segment of the population, the market is set to boom by the end of this decade. Here\u2019s your guide to which models are currently available, how much they\u2019ll set you back \u2014 and some points to consider before you decide to make the switch. <\/span><\/p>\n

There are already a handful of EVs on our roads: <\/span>Almost 1.8k electric vehicles are licensed <\/span>in Egypt, according to figures from the Egyptian Compulsory Motor Insurance Pool (ECIP) seen by Enterprise. <\/span>Volkswagen\u2019s ID line<\/a><\/span> has been the most popular so far among Egyptian consumers, with licenses <\/span>issued for about 336 vehicles between July 2021 and January 2023. Some 96 Tesla vehicles, 46 electric BMWs and 26 Porsche Models were licensed over the same period. <\/span><\/p>\n

These purchases have mostly come through private imports: <\/span>\u201cThe majority of sales have <\/span>come through private or dealership-facilitated imports,\u201d Tamer Kotb, commercial director at Abou Ghaly Motors, tells us. \u201cOnly a small fraction of the EVs available in the market have come through authorized agents with agreements with EV manufacturers.\u201d <\/span>Remember: EVs enter the country with zero customs duties. <\/span><\/p>\n

EVs aren\u2019t the easiest to maintain and repair right now: <\/span>Those who can afford an EV may <\/span>have cause to hesitate over maintenance and repair challenges, Kotb says. \u201cPeople buying imported EVs through private or dealership facilitated imports will have to import spare parts if anything goes wrong and don\u2019t have the benefit of technical support or warranty \u2014 which makes buying an EV a little risky,\u201d Kotb tells us<\/span><\/p>\n

Though an electric model could bring savings on maintenance down the road: <\/span>\u201cOver the long term <\/span>there are a lot of savings from purchasing an EV. Maintenance and repair costs are 80-90% of your ordinary fossil-fuel powered car. There aren't as many components that break or require replacing so the total ownership cost is lower than a regular car over an eight or nine year period,\u201d Kotb says. <\/span><\/p>\n

Infrastructure is still a work in progress: <\/span>Our friends at renewable energy player Infinity<\/span> have built at least 190 charging stations so far nationwide,according to an <\/span>interactive map<\/a><\/span> from local player Electrified. The company is planning to up the number of its charging stations to <\/span>300 by 2024<\/a><\/span>, part of a plan with the government to eventually set up <\/span>3k stations across the country.<\/a><\/span><\/p>\n

You\u2019ll likely want to invest in a home charging station:<\/span> Even if you happen to have an EV <\/span>charging station close to home, it's best to invest in a home charging station, Kotb says. A home charging station will use AC, or alternating current \u2014 the stuff that is transmitted through the national grid and comes out of your wall socket. While slower than the alternative \u2014 DC, or direct current \u2014 <\/span>AC is cheaper<\/a><\/span>. AC charging also avoids depleting your EV battery\u2019s health, Kotb told us. <\/span><\/p>\n

A home charging station costs roughly EGP 29k - 38k to buy and install<\/span>, a representative <\/span>at EV car dealership El Eman told us. You\u2019ll also need a cable, which runs at around EGP 6k. <\/span><\/p>\n

You folks say you\u2019re eager to make the switch: <\/span>Some 90% of respondents to our <\/span>Enterprise<\/a><\/span>EV survey late last year<\/a><\/span> said they\u2019re planning to buy an EV within the next 10 years \u2014 and one in five respondents said they\u2019ll make a purchase in the next 12 months. Only 3% of those we surveyed already own an EV. <\/span><\/p>\n

EVs could be your only option as soon as 2030: <\/span>\u201cIf we look at 2030, almost all automotive <\/span>manufacturers will exclusively be making EVs,\u201d Kotb says. \u201cSo for a country like Egypt that relies on imports to meet demand for new cars, the transition is inevitable. People looking to buy new cars in about seven years from now will likely not be able to find any new models that aren\u2019t electric.\u201d <\/span><\/p>\n

But it could be worth waiting until local assembly kicks off:<\/span> Locally assembled vehicles \u2014 <\/span>some of which could be sold at around EGP 300-350k, our sources tell us \u2014 will be crucial for EV adoption to really take off in Egypt, since imported EVs currently remain far <\/span>more expensive<\/a><\/span> than their fossil-fuel guzzling counterparts. Our first locally manufactured EVs could roll off production lines soon as the government works on incentives to localize the industry as part of its hotly anticipated <\/span>automotive strategy<\/a><\/span>. Several companies have recently announced plans to start local production:<\/span><\/p>\n