Egypt’s Infinity EV signs deal for charging stations

From the newsletter

The Egyptian government has signed a deal with electric vehicles company Infinity EV & renewable energy services provider Hassan Allan Utilities to set up nationwide charging stations. The two companies will establish the stations at petroleum outlets operated by state-owned gas firms Misr Petroleum and Gastec.  

• There are more than 3,140 fuel service stations in Egypt. Petroleum companies such as Gastec, already owning vast networks of high-trafficked service stations, have emerged as key providers of space for installation of EV charging stations. 

• On the other hand, EV firms such as Infinity are shopping for prime locations to establish their charging stations. Egypt is aiming to combine the government-owned network of service stations with private sector expertise to accelerate rollout of charging stations. 

More details

• The partnership was signed during the sidelines of EGYPES 2025 by chief officials from the four parties (as shown in the photo above) with a motive to deploy both DC/AC charging stations across high-traffic filling stations.

• Petrol prices in Egypt increased by 17% in 2024, prompting consumers to strategise on adopting electric vehicles. EV sales in Egypt nearly doubled in 2024, reaching 6,150 vehicles.

• Therefore, the recent partnership is a strategic response to the pressing need for a more robust and accessible charging network.

• Consumers will benefit from reduced charging times and increased accessibility to fast chargers. On the other hand, Gastec will gain a competitive edge by diversifying its revenue streams beyond traditional fossil fuels. Local businesses near charging stations may also experience increased foot traffic.

• Expanding to 1,000 charging stations would not only set a record for its dominance in Africa, but also serve as a benchmark for the industry. However, the ambitious target raises concerns regarding the feasibility of scaling up installation rates, given historical performance.

• The success of this initiative largely relies on the seamless execution of responsibilities by all partners involved. Infinity EV is expected to lead the project, with Hassan Allam Utilities ensuring the necessary power infrastructure is in place and Gastec using existing petrol stations. Government support is critical for navigating regulatory challenges and implementing effective policies.

• A major threat to the project is the historically slow pace of government intervention in promoting and regulating EV infrastructure. Past initiatives, such as local manufacturing agreements, have frequently stalled, raising concerns about the feasibility of timely execution.

• For example, the Egyptian government has signed pacts with Dongfeng, Geely, and Foton Motor within the last five years, but none of these partnerships have been executed fully.

• This raises questions about the expected execution of EV charging expansion. Despite the government’s slow implementation process, Infinity EV is very confident on the actualization of the project.

• Nayer Fouad, Co-founder and CEO of Infinity, said, “By joining forces with industry leaders, we are not only expanding charging infrastructure but also laying the groundwork for a more sustainable mobility ecosystem. With the support of H.E. Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, we are confident that this collaboration will drive the widespread adoption of EVs and strengthen Egypt’s position as a regional leader in electric mobility.”

Our take

• Pioneering EV countries such as Ethiopia, Kenya, Uganda, South Africa, and Rwanda have already drafted EV charging regulations. This may have been a wake-up call for Egypt to draft its own, thus signing an agreement with the largest EV charging provider to ascertain which policies would best suit Egypt.

• Given the Senate's recent push for a coherent EV policy last week, we anticipate prompt governmental action concerning electric vehicle infrastructure and incentives, designed to align with the escalating demand.

• The partnership's focus on high-traffic locations could provide valuable data on consumer charging habits. This data-driven approach could ensure that infrastructure development aligns closely with actual demand, maximising the effectiveness of investment.