Latest news with #BluEV
Zawya
09-07-2025
- Automotive
- Zawya
Egypt's Sawiris to invest $100mln in motorbike electric conversion project in Morocco
Blu EV, an Egyptian electric mobility company owned by billionaire Naguib Sawiris, is preparing to enter the Moroccan market by the end of this year. The company, which specialises in electric conversion of fuel-powered motorcycles, aims to invest $100 million in the country. Blu EV co-founder and Chief Executive Officer Reda Baalbaki said the expansion into Morocco is part of a larger plan to grow gradually across MENA. The company also continues to expand within Egypt, aiming to provide affordable and eco-friendly two-wheeled transportation solutions. Blu EV was launched in 2023 and is chaired by prominent Egyptian businessman Naguib Sawiris. Sawiris invested $120 million in the company through a partnership with Orascom Investment Holding, a firm owned by the Sawiris family. Baalbaki explained that Blu EV currently operates in several Egyptian cities, including East Cairo, Alexandria, Ismailia, the North Coast, and El Gouna. It has already set up over 50 battery-swapping stations, with a focus this year on expanding further into Greater Cairo. The company plans to cover the rest of Egypt over the next five years. Morocco is home to two major car factories that have started producing electric or hybrid models for export. Last week, Renault Tangier celebrated the production of the 2,000th Mobilise DUO, the first fully electric four-wheeled vehicle made in Morocco. However, the local use of EVs remains low due to the high cost of electric cars and the limited number of charging stations. Most EV initiatives have focused on electric cars, with little attention to motorcycles, despite their widespread use in cities like Casablanca, Marrakech, and Fez. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Morocco World
08-07-2025
- Automotive
- Morocco World
Egypt's Blu EV Plans $100 Million Investment in Morocco's Electric Mobility Market
Rabat – Blu EV, an Egyptian electric mobility company backed by billionaire Naguib Sawiris, is preparing to enter the Moroccan market by the end of this year. The company, which specializes in converting motorcycles from gasoline to electric power, aims to invest $100 million in the country. Speaking to Asharq Business, Blu EV co-founder and Chief Executive Officer Reda Baalbaki said that the expansion into Morocco is part of a larger plan to grow gradually across North Africa and the Middle East. The company also continues to expand within Egypt, aiming to provide affordable and eco-friendly two-wheeled transportation solutions. Their electric bikes cost around 30% less to operate than traditional fuel-powered motorcycles, Baalbaki said, highlighting the company's focus on reducing pollution and offering low-cost mobility options. Blu EV was launched in 2023 and is chaired by prominent Egyptian businessman Naguib Sawiris. Sawiris invested $120 million in the company through a partnership with Orascom Investment Holding, a firm owned by the Sawiris family. Baalbaki explained that Blu EV currently operates in several Egyptian cities, including East Cairo, Alexandria, Ismailia, the North Coast, and El Gouna. It has already set up over 50 battery-swapping stations, with a focus this year on expanding further into Greater Cairo. The company plans to cover the rest of Egypt over the next five years. Blu EV's main service is converting regular motorcycles into electric ones by replacing the fuel engine with an electric motor. The company also manages a smart network of battery-swapping stations to support the use of these electric bikes. Morocco has taken several steps in recent years to support electric vehicles. The country has launched public charging stations in major cities and on highways, and local automakers have shown interest in producing EVs. In addition, Morocco is home to two major car factories that have started producing electric or hybrid models for export. Last week, Renault Tangier celebrated the production of the 2,000th Mobilize DUO, the first fully electric four-wheeled vehicle made in Morocco. However, the local use of EVs remains low due to the high cost of electric cars and the limited number of charging stations. Most EV initiatives have focused on electric cars, with little attention to motorcycles, despite their widespread use in cities like Casablanca, Marrakech, and Fez. Tags: EgyptElectric Vehiclesev
