Elsewedy Transport and Distribution, an operating subsidiary of Elsewedy Electric, has completed electrical bus charging units at Cairo’s Adly Mansour Central Metro Interchange Station.
El Sewedy Electric is a multinational cable and electrical equipment manufacturer led by Egyptian multimillionaire businessman Ahmed El Sewedy. The company is involved in a number of renewable energy projects in Egypt, as well as in the Middle East and North Africa.
The electrical bus charging units fall under Egypt’s plans to make a quick transition to sustainable energy alternatives. The news comes nearly four years after the country inaugurated its first electric vehicle charging unit at a state-owned Wataniya gas station on the Cairo-Suez Highway.
Elsewedy Transport and Distribution CEO Medhat Maher stated that the company has completed the supply, installation, and operation of four constant current chargers, including two 60 kilowatt (kW) chargers and two 120 kW chargers.
While commenting on the developments, Ahmed El Sewedy, CEO of Elsewedy Electric, stated that the installation and operation of the electrical bus charging stations is part of Elsewedy Electric’s strategy to rely on clean energy and identify alternate energy sources to fossil fuels.
Founded in 1938 by the El Sewedy family, an Egyptian billionaire family represented by Sadek, Ahmed, and Mohammed El Sewedy, Elsewedy Electric reported a profit of EGP1.89 billion ($98.4 million) in the first half of 2022, boosted by the strength of its electric cable and turnkey projects.
The group’s strong financial performance comes as it continues to reap the benefits of its agile and adaptable business strategy, which has allowed it to remain resilient in the face of global uncertainty and economic instability.
Following the debut of its electrical bus charging stations in Cairo, the group revealed that its subsidiary is also installing and outfitting another bus charging station in Sharm ElSheikh, which will feature 70 chargers and a capacity of 140 buses.