Orascom Investment Holding signed a strategic partnership agreement with BluEV, through which it aims to create a leap in the transportation industry inside and outside Egypt.
The partnership is based on the unprecedented experience of the BluEV founding team in the fields of information technology and transportation engineering. It also benefits from the future vision of Orascom Investment and the resources and opportunities it provides to expand in global markets to start a new era in the transportation industry through the BluEV network, smart battery exchange stations and their integrated digital platform. This will accelerate green transformation and achieve the sustainable development goals of the light transport sector.
BluEV has established a digital platform that manages a smart network of battery replacement stations to enable users of light transportation to switch to electric vehicles, enabling an advanced and sustainable infrastructure that feeds two- and three-wheeled vehicles with clean energy and greatly helps to eliminate environmental pollution emissions in residential areas.
The BluEV network offers several features that provide the possibility of purchasing light electric vehicles in installments or converting a motorcycle into an electric vehicle at one of the approved conversion centers.
In terms of daily consumption, users can rent and charge the smart lithium-ion battery to power their electric vehicle once an account is created on the BlueEV digital platform. With this service, customers could avoid the high cost and battery hassles in addition to eliminating the long charging time once the battery was replaced. Empty items are also replaced with charged one in less than a minute via one of the exchange stations located around the city, which can be reached through the BluEV mobile app
The BluEV subscription process is fully digital and automated, as the various subscription packages will provide several benefits for financing, insurance and payment using the BluEV e-wallet.
BluEV has established technical partnerships with manufacturers of light transportation, electronics systems and lithium batteries that transfer technical know-how and specifications to provide compatible products licensed to operate on the BluEV network.
The step aims for BluEV to become an active contributor to the localization of the light electric transport industry and a link between all workers in this industry and the industries feeding it.
Naguib Sawiris, Executive Chairman of Orascom Investment Company, said that the partnership is in line with the company’s investment strategy, which focuses on sectors that create opportunities for economic growth, societal transformation, and positive intra-influence.
He explained that the partnership is in line with the National Climate Change Strategy 2050, which was launched before the United Nations Conference COP27.
The partnership provides a practical and viable solution under which the huge light transport sector in Egypt and the region will be comprehensively transformed into one that is environmentally friendly and at an affordable cost that reduces the burden of high fuel prices on the user.
Sawiris added, “This model is very similar to the commercial model of mobile phone networks, as we have extensive and long experience that makes us confident of our ability to excel in introducing and consolidating this business model in Egypt and the region.”
For his part, BluEV CEO Reda Baalbaki said, “Orascom is an investor and strategic partner of BluEV, bringing us closer than ever to achieving our goal of electrifying light transportation.”
He emphasized the common vision of the two parties on how to restructure the transport industry in general, making this partnership an interesting journey full of fruitful work.
He explained that his company is the first company to establish a platform to manage and operate smart battery replacement networks in Egypt and the Middle East, which made Orascom’s achievements in the telecommunications sector an inspiring experience. Orascom is also an ideal partner and the most capable of understanding the business mechanisms of BluEV and thus supporting it to become a global player in introducing the concept of transportation via platforms as a service to the consumer instead of traditional methods.
Baalbaki added: “It is as if history is repeating itself, for BluEV to start in the Egyptian market and then to the markets of Africa, Europe and other continents, just as Orascom Telecom did. Few have the credibility to say “we did it before”. Thanks to this partnership, we can easily say that, and we promise to be our permanent commitment to our customers and investors.”
