Madbouly inspects "Shift EV" company that manufactures lithium-ion batteries.
The Prime Minister praises the project, which is largely in line with the State's approach towards clean energy and the reduction of carbon emissions… "The government supports these projects", he confirms.
The company is industrially converting internal combustion engine (IC engine) vehicles to run on electricity using the locally developed electrofitting technology.
Conversion of commercial vehicles used in transportation fleets of global logistics companies to reduce emissions that cause climate change.
Electrification of vehicles and manufacture of batteries are important steps towards the localization of modern electric vehicles technology.
Every electrification process contributes to reducing the fuel import bill of diesel and gasoline.
Within the framework of the Egyptian State's plan to support industrialization and deepen the local component in production, the Prime Minister Dr. Mostafa Madbouly toured a number of important industrial and real estate projects in 6th of October City today.
The Prime Minister began his visit by inspecting the Egyptian company "Shift EV" for the manufacture of lithium-ion batteries, accompanied by Minister of Trade and Industry Eng. Ahmed Samir, Governor of Giza General Ahmed Rashed, GAFI CEO Mr. Hossam Heiba, and "Shift EV" CEO Dr. Aly El Tayeb.
The Prime Minister praised the project, which is largely in line with the Egyptian State's approach towards clean energy and the reduction of carbon emissions. He confirms that that the government supports such projects, especially that they are the outcome of the efforts of a group of ambitious youth. Meanwhile, the Prime Minister was keen to test one of the converted vehicles and toured it around the factory. Dr. Mostafa Madbouly also listened to the opinions and requirements of some of the workers in the factory.
Madbouly listened to a detailed explanation about the company, presented by Dr. Aly El Tayeb, who indicated at the beginning of his speech that "Shift EV" is a two-year-old Egyptian startup, employing about 80 male and female engineers and workers. It was able to recruit many Egyptian emigrant minds, and experienced workers in international vehicles companies.
El Tayeb confirmed that "Shift EV" is the first Egyptian company to manufacture lithium-ion batteries. It is also the first in the world to industrially convert IC engine vehicles to run on electricity using the locally developed electrofitting technology, which electrifies entire fleets within a few hours.
"The company focuses on electrifying commercial vehicles used in transport fleets of global logistics companies, in order to reduce emissions that cause climate change, and reduce operating costs by more than 80%, with a small investment cost", "Shift EV" CEO said. The CEO added that the company is currently developing electric products for passenger transport in order to serve a larger segment in Egypt being already served by 1.5 million commercial vehicles available in Egypt's streets. The company also seeks to export conversion technology and its products to emerging markets with similar needs to Egypt.
Dr. Aly El Tayeb confirmed that the company has already succeeded in attracting investments worth $9 million from international investment funds that have not invested in Egypt before for the purpose of building a production capacity of more than 2,000 vehicles per year. In addition, the company is working
on obtaining additional investments of $20 million to reach a production capacity of 10,000 vehicles per year.Shift EV CEO indicated that the conversion process begins with engineering design that takes into account the stability and safety factors of the original vehicle. He explained that the company obtained the approvals for its products’ designs, and the produced cars passed the required tests according to the international standards to allow them to run on Egyptian roads.
In the same context, El Tayeb confirmed that the company produces the components used in the conversion process, the most important of which are lithium-ion batteries in the company's factory in the 6th of October Industrial Zone. The components also go through multiple tests to ensure their quality and compliance with the required standards before using them in the conversion process.
Dr. Aly El Tayeb explained that the company obtained the approval of the Egyptian Organization for Standardization & Quality after passing the standard tests, which paved the way for the Industrial Development Authority “IDA” to introduce the codes and standards governing the lithium-ion battery industry, as well as the industrial conversion of vehicles to run on electricity.
He also pointed out that Shift EV became the first and only approved company in Egypt to convert vehicles to run on electricity after obtaining the industrial registry from IDA and the approval of the Egyptian Organization for Standardization & Quality.
“The company worked closely with the Ministry of Interior, with the support of the Prime Minister, to amend the traffic regulations to allow licensing the converted cars in order to begin the phase of mass production and marketing of vehicles.”, El Tayeb said.
He added that the company has already converted commercial fleets for its customers, and these vehicles are on their way to cover one million kilometers on Egyptian roads within the framework of actual commercial operation, achieving high financial operational savings without the need for imported fossil fuels and the expensive maintenance.
Shift EV CEO pointed out that converting vehicles to run on electricity and manufacturing batteries are important steps towards localizing modern electric vehicle technology and building an economy based on knowledge and industry with global investments in Egypt.
El Tayeb confirmed that the industrial conversion to electricity opens the door to the spread of electric vehicles at a low cost; besides, he emphasized Egypt's commitment to its role in reducing emissions that cause climate change. He explained that, on the economic level, each electrical conversion process contributes to reducing the fuel import bill of diesel and gasoline.
