Egypt Electric Car Market Top Key Players - El Nasr Automotive Manufacturing Company, Arab American Vehicles, Infinity Electric car charging station, Mansour Group, BMW, Tesla, Revolta, Dongfeng Motor Corporation, Kirloskar Group

The Egypt Electric Car Market is estimated to be US $ XX Billion in 2021 and expected to grow at a CAGR of XX% by 2026. It is a new and growing market that can attract both local and global customers as it is the second largest market in Africa. Investments and joint ventures by foreign companies have greater potential in the future in the manufacture of electric vehicles as a whole. Mass production of electric vehicles is scheduled to start in 2022, a joint venture between Dongfeng Automobile Group and Al Nasr Automobile Manufacturing Company. The company is already starting to test the same prototype. China is one of the world's largest electric vehicle manufacturers and suppliers.

The Egyptian government and companies have signed MoUs with companies based in China for battery technology and motor technology, and are developing vehicles at an early stage. Because imported electric vehicles have a higher price point after including the total cost of sale. This is the main drawback of electric vehicles that the government has to overcome.

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EGYPT ELECTRIC CAR MARKET DYNAMICS

• For countries like Egypt, the electric vehicle market is new to their people, and there are currently less than 200 electric vehicles on Egyptian roads, with imported models too. Technology development for electric vehicles and electric vehicles has begun, and venture companies between foreign companies are participating. The entry of electric vehicles will result in different market opportunities for different segments of the market, such as battery replacement stations, charging stations, battery manufacturers, motor makers, etc.

• For a new market, the price of electric vehicles is higher in Egypt than before. Engine cars, this factor is a cause that cannot attract the attention of citizens, and the current scenario is that the price of electric vehicles is high because there are no local manufacturers, and the price of imported cars rises for all cars.

EGYPT ELECTRIC CAR MARKET SEGMENTATION

By Type
• Battery Electric Cars
• Hybrid Electric Cars
• Plug – in Hybrid Electric Cars

By Car Class
• Mid-Priced
• Luxury

By Car Type
• Commercial Car
• Personal Car

IMPACT OF COVID IN ELECTRIC CAR MARKET IN EGYPT

• COVID has impacted production and development processes worldwide. Countries that were trying to develop next-generation technologies for their own advancement have also experienced delays in their territories.

• The government provides assistance on their side to anyone who needs to overcome this sudden wall of financial and social problems. Since most countries have decided to cut their carbon dioxide emissions by 2030, not all countries are doing everything possible to bring conventional vehicles to the public market and attract them.

MAJOR PLAYERS IN EGYPTIAN MARKET

• El Nasr Automotive Manufacturing Company
• Arab American Vehicles
• Infinity Electric car charging station
• Mansour Group
• BMW
• Tesla
• Revolta
• Dongfeng Motor Corporation
• Kirloskar Group

Read More Information: https://mobilityforesights.com/product/egypt-electric-car-market/

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This release was published on openPR.