Egypt is trying to achieve a rapid transition to electric vehicles. They have started domestic vehicle production with a little help from China. Not just cars, but also smaller mopeds and such I think.
So, by making people drive domestic vehicles fueled by domestic electricity, they hope to be less dependent on IMF loans and imported vehicles and fuel. They want to be the key hub for electrifying African vehicles, so they are also aiming for exports.
It makes sense like that, but it’ll obviously piss off a lot of people, both inside and outside of Egypt. I’m not at all sure they can actually see it through. It’s a bold move when they have a poor economy to begin with. They are in the middle of a financial crisis, so something drastic needs to be done.
IMF is part of UN.
Egypt is trying to achieve a rapid transition to electric vehicles. They have started domestic vehicle production with a little help from China. Not just cars, but also smaller mopeds and such I think.
So, by making people drive domestic vehicles fueled by domestic electricity, they hope to be less dependent on IMF loans and imported vehicles and fuel. They want to be the key hub for electrifying African vehicles, so they are also aiming for exports.
It makes sense like that, but it’ll obviously piss off a lot of people, both inside and outside of Egypt. I’m not at all sure they can actually see it through. It’s a bold move when they have a poor economy to begin with. They are in the middle of a financial crisis, so something drastic needs to be done.