The launch of the first joint electric vehicle (EV) in the region was discussed amongst Egypt, Jordan, the United Arab Emirates (UAE), and Bahrain, at the Higher Committee of Integrated Industrial Partnership meeting, which took place between March 19-21 in Cairo.
The Arab Organization for Industrialization (AOI) of Egypt released a statement urging a fast completion of the EV in an effort for it to be ready in time for the 28th edition of the UN Climate Conference (COP28), set to take place in the UAE from November 30 to December 12, 2023.
The Industrial Partnership for Sustainable Economic Development was signed by the four countries in a bid to grow joint investment and boost economic integration in the region, which sees its member countries collaborating through the integration of resources and industries. Since its inception, a string of multi-billion dollar deals have been signed between the countries in their trajectory to promote sustainable growth.
In February 2023, 12 agreements worth upwards of $ 2 billion and spanning nine industrial sectors were signed by the member countries as per the Emirates News Agency (WAM).
These are predicted to raise the respective countries’ Gross Domestic Product (GDP) by $1.6 billion, with the creation of over 13,000 jobs.
One of the deals included the launch of three EV factories across the UAE, Jordan, and Egypt by UAE-based automotive company, M Glory Holding. The project is estimated at $550 million.
Egypt’s first EV
In pursuit of its transition to a green economy, Egypt had already announced its plan to manufacture its first electric car by 2023, as per an article published in January 2022 by Zawya.
Egypt is pushing for local production and the reduction of the country’s use of fossil fuels through the manufacturing of environmentally-friendly cars.
Last February, The Arab Academy for Science, Technology & Maritime Transport revealed plans to produce the country’s first EV to be manufactured locally, per an article published in February 2023 by Al Ahram. Within a six-months time frame from its launch, the EV will be sold at $3.067 million. The first prototype was showcased earlier this year at COP27, held in Sharm El-Sheikh.
EVs reduce pollution as they produce significantly less greenhouse gas emissions. While not completely eradicated, emissions from electric cars are reduced compared to emissions from vehicles running on petrol, according to the Sustainable Energy Authority of Ireland.
Moreover, harmful gasses that are a by-product of burning fossil fuels, such as nitrogen and sulfur oxides, are reduced when driving EVs.