{"id":587534,"date":"2023-05-29T00:00:00","date_gmt":"2023-05-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/shifting-gears-on-emerging-market-transport-emissions\/"},"modified":"2023-05-29T00:00:00","modified_gmt":"2023-05-29T00:00:00","slug":"shifting-gears-on-emerging-market-transport-emissions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/shifting-gears-on-emerging-market-transport-emissions\/","title":{"rendered":"Shifting gears on emerging market transport emissions"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Discover how Egypt\u2019s Shift EV is helping fleet owners overcome cost constraints in the transition to electric delivery vehicles with HSBC support.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\">Getting goods from \u2018A\u2019 to \u2018B\u2019 is a fundamental aspect of any consumer economy. Supply chains <\/span><span style=\"font-weight:400;\">regularly involve long journeys, sometimes across multiple countries and continents, to take products from creation to consumption. But over half of greenhouse gas emissions generated across supply chains occur in the so-called \u201clast mile\u201d \u2014 the relatively short distance from warehouse to point of purchase. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>A proven method to tackle <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.business.hsbc.com\/en-gb\/insights\/sustainability\/electrifying-the-last-mile\" style=\"\">last-mile delivery emissions<\/a><\/span><span style=\"font-weight:400;\"> is to convert petrol delivery vehicles to electric ones. The obstacle here however, especially in developing economies, is the significant capital required to upgrade delivery fleets.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>However, Egyptian venture capital-backed start-up, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.shift-ev.com\/\" style=\"\">Shift EV<\/a><\/span><span style=\"font-weight:400;\">, identified a solution to overcome this barrier to going green. Facilitated by HSBC, the team at Shift EV work with clients to retrofit minivans and delivery trucks with their in-house designed and manufactured lithium-ion battery packs. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">The company also connects converted vehicles remotely to ShiftWare, its fleet analytics and operating system, which help businesses make their delivery operations more sustainable and more efficient. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Shift EV\u2019s service means fleet owners pay nothing up-front for the conversion and are guaranteed 30% savings over current costs.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Founded in 2020, Shift EV sees significant potential for its business model beyond Egypt. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">\"There are around 25 mn commercial vehicles driving down streets across developing markets across the world, from pickup trucks, minivans, to small trucks. There is a great opportunity here to retrofit our supply chains on the journey to net zero.\u201d says Aly El Tayeb, CEO and co-founder of Shift EV.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">\"The reason why we chose to go after the last mile market is that most of the players in the market are run by large corporations that have strong mandates to cut their carbon emissions. Moreover, companies utilize warehouses in their operations, making charging so much easier,\" El Tayeb adds.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">The company is looking to onboard more clients and scale its operations across the Middle East and North Africa region. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">To help meet that target, HSBC provided Shift EV an unsecured working capital facility to finance a portion of its retrofitting contracts with corporate clients. It is one of the first such facilities issued by a bank in Egypt. HSBC is also supporting the company\u2019s import requirements through a secured import line.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">\u201cGiven that the majority of growth in e-commerce and demand for related logistics will come from developing countries, there is an urgent need to hasten the electrification of last-mile deliveries in places like Egypt and elsewhere in the region,\u201d says Ali Taqi, head of commercial banking at HSBC Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">\u201cShift EV has developed an effective model combining innovation in hardware, software and financing to help businesses facing resource constraints electrify their fleets. By doing so, the businesses can not only contribute to reduction of emissions, but also improve efficiencies to support their bottom line and that of their customers,\u201d Taqi adds. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover how Egypt\u2019s Shift EV is helping fleet owners overcome cost constraints in the transition to electric delivery vehicles with HSBC support. Getting goods from \u2018A\u2019 to \u2018B\u2019 is a fundamental aspect of any consumer economy. Supply chains regularly involve long journeys, sometimes across multiple countries and continents, to take products from creation to consumption. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":587535,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7351],"tags":[2284,144,72,356,490,1634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-message-from-hsbc","tag-a-message-from-hsbc","tag-automotive","tag-enterpriseam","tag-evs","tag-hsbc","tag-shift-ev","wpautop","entry"],"acf":{"mongo_id":"96921b4e-4217-4ee6-9f3e-7958a808a2ed","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1531.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Shifting gears on emerging market transport emissions","related_issue":[587520],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.b872a9c3-1227-4ebf-96b5-b5063e4aa431.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Shifting gears on emerging market transport emissions - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/05\/29\/shifting-gears-on-emerging-market-transport-emissions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shifting gears on emerging market transport emissions\" \/>\n<meta property=\"og:description\" content=\"Discover how Egypt\u2019s Shift EV is helping fleet owners overcome cost constraints in the transition to electric delivery vehicles with HSBC support. 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Five emerging trends\u2014service trade growth, supply chain shifts and sustainability, trade digitisation, business-to-business platforms, and embedded finance\u2014are reshaping trade globally, and Egypt\u2019s ability to embrace them\u2026","rel":"","context":"In &quot;A MESSAGE FROM HSBC&quot;","block_context":{"text":"A MESSAGE FROM HSBC","link":"https:\/\/enterpriseam.com\/egypt\/category\/a-message-from-hsbc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/ads\/imgs\/337.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615903,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/26\/global-trade-faces-its-biggest-transformation-in-decades-and-businesses-must-adapt\/","url_meta":{"origin":587534,"position":2},"title":"Global trade faces its biggest transformation in decades, and businesses must adapt","author":"enterpriseam admin","date":"26 February 2024","format":false,"excerpt":"The impact of geopolitics on supply chains, and the pace at which trade and investmentflows have shifted over the past two years are topics that will be keenly discussed at the World Trade Organization\u2019s (WTO) ministerial meeting in Abu Dhabi this week. 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PLUS: News from HSBC and Mountain View","author":"enterpriseam admin","date":"6 June 2024","format":false,"excerpt":"The government is paying farmers EGP 2k per ardeb of wheat this harvest season","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/660.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577208,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/","url_meta":{"origin":587534,"position":5},"title":"Banks can play an important role in the transition journey of SMEs","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"By Natalie Blyth If the world is to meet its net zero targets by 2050, businesses must contribute by innovating quickly and at scale. 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