A national investment conglomerate introduced on Wednesday a new electric car into the Egyptian market in hope of reducing the unlicensed tuk-tuks within the country. The car, which has a local component of 45 percent, is being offered at a low cost to encourage the replacement of tuk-tuks. The car will be made available for purchase in installments, in cooperation with a number banks such as Agricultural Bank of Egypt, the National Bank of Egypt, Banque Misr, and Commercial International Bank (CIB). The conglomerate involved in the project includes EG Gate, a company of the Tahya Misr (Long Live Egypt) Fund, and Dolibaat Egypt for electric cars, in cooperation with an Interior Ministry com
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