Egypt shows strong growth in 2024 to double EV count

• The 2024 sales are still a long way from Egypt’s target to increase EV sales to 92,000 by 2029. To hit this target, its sales must grow from a current count of 6,150 by 300% every year for the next 5 years.

• The country has an even more ambitious target to produce 500,000 EVs locally by 2030, and has offered to subsidise the first 100,000 units exceeding the 400 km range. This target will likely be missed, as its pace of building manufacturing plants has been slow. 

• Our take: Scaling up production of EVs to half a million units and increasing sales by 300% annually requires robust infrastructure, supportive policies, and consumer acceptance…  Read more (2 min)

Rubicon deploys first open-loop EV charging payment

• With the adoption of this new technology, users will no longer need to create accounts with specific companies to access charging stations. Instead, standard bank cards will facilitate seamless transactions, removing unnecessary barriers.

• Regulations primarily focus on incentivising the emerging market to drive adoption, yet payment challenges remain unaddressed. The fragmented nature of the EV charging payment system across the continent further hinders customers from accessing convenient charging solutions. 

• Our take: Enabling payments via regular credit or debit cards will simplify the process, reduce frustration, and ultimately boost consumer confidence, thus a potential growth of the EV charging market… Read more (2 min)

Algeria expands charging network with 7 new stations

• The installation of the new charging stations highlights growing demand for EVs in Algeria, one of only four countries in Africa (alongside Egypt, Morocco and Tunisia) to have 100% electricity access rate.

• Sonelgaz makes and installs charging stations for public use in various cities. Its high manufacturing capacity means that it does not only meet local needs but can also serve the export market in Africa and beyond.

• Our take: Africa needs thousands of charging stations each year. Most of them are imported, especially from China. Algeria provides a roadmap on how African countries can make these stations on their own… Read more (2 min)

____________________