EgyptERA licenses Elsewedy Plug, Ikarus Electric to set up EV recharging stations

Updated 7/4/2023 9:13:00 AM
EgyptERA licenses Elsewedy Plug, Ikarus Electric to set up EV recharging stations

Arab Finance: The Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) has granted Elsewedy Plug, an electric vehicle (EV) charging company and subsidiary of Elsewedy Electric, and Ikarus Electric a one-year license to establish EV charging stations, Al Borsa News reported, citing a statement by EgyptERA.

As per the statement, both firms shall sign a contract on supplying power to the EV charging stations with the licensed distribution companies, in addition to committing to raising the issued capital to reach EGP 10 million.

Moreover, the stations shall operate in accordance with the European and International Electrotechnical Commission (IEC) standards.

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