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An electric vehicle is referred to as an EV. EVs are cars that run entirely or mostly on electricity. Since they have fewer moving parts to repair and consume little to no fossil fuels, electric vehicles are very economical to operate (petrol or diesel).
Direct current (DC) must be supplied to the battery pack during EV charging. A converter is needed to give DC power to the battery because electrical distribution systems only supply alternating current (AC) power. Both AC and DC can be used for conductive charging.
The Egypt EV charger market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
Egypt is establishing electric vehicle charging stations. A first phase of 3,000 dual chargers, spanning all motorways and the governorates of Cairo, Giza, and Alexandria, is what the Misr Electric Vehicle Charging Stations Company hopes to create and operate in the coming months.
The Sovereign Fund of Egypt and Misr Insurance Holding Group each contributed 30% of the starting capital, while one company from the Hassan Allam Group contributed 20%, bringing the total capital to EGP, which will rise after choosing the technical partner.
The meeting covered the last-minute details of the company’s formation as well as the status of the tender offered to businesses that were qualified to run, manage, and contribute to the capital of the business.
The tender period was extended to allow additional time for businesses to submit their offers.The winning company will delegate the task of choosing the stations’ locations from a preliminary list of more than 2,000 sites to a specialised consulting group.
