Infinity-E has started negotiations with the Ministry of Public Enterprise Sector and sovereign authorities to establish a company for electric vehicle (EV) charging stations.
Shams Al-Din Abdel Ghaffar, the Managing Director of the EV sector at Infinity-E, told Daily News Egypt that it is scheduled to establish 6,000 EV charging stations within a year at a cost of up to EGP 450m after the company’s establishment.
The main goal of the company is to provide the necessary electricity for cars to be produced in Al-Nasr Automotive company.
He added that an agreement is expected to be reached within a month, especially after the clarity of vision regarding the tariff for the sale of electricity for cars and electric buses and its official approval.
Infinity-E seeks to establish 120 charging stations for electric cars nationwide by the end of next December at a cost of EGP 85m, bringing the number of stations owned by it to 200, according to Abdel Ghaffar.
He stated that Infinity-E aims to complete the implementation of 50 of the 120 targeted stations before the end of next June, and the stations will be spread across the country.
Abdel Ghaffar explained that Infinity-E is waiting to obtain a license from the Electricity Utility and Consumer Protection Regulatory Agency to sell electricity to electric cars from its owned stations.
He stated that the company is still providing electricity to cars for free from its stations, although it buys electricity from the government with vast sums of money.
Infinity-E is committed to the prices set by the government for the sale of electric cars. Abdel Ghaffar confirmed that the tariff issued for charging electric cars is attractive and encouraging.
The company’s total investments to establish existing electric car charging stations has amounted to about EGP 300m since its establishment, according to Abdel Ghaffar.
