Zoomcar to launch $2 mln programme to promote eco-friendly car use in Egypt

Doaa A.Moneim , Monday 5 Dec 2022

Zoomcar will launch “Zoomcar Green” programme by the second quarter of 2023 with total investments of $2 million to promote the use of electric cars and bolster decarbonisation efforts in the local market.



Zoomcar, a car-sharing marketplace covering emerging markets and dominating the self-driving car market in India, has been operating in the Egyptian market since 2021 with total investments estimated at $25 million.

The company said the new programme aims to encourage drivers to rent electric cars via the Zoomcar platform, which will supply them with a tonger to recharge batteries.

This will encourage drivers to switch to electric and hybrid cars away from IC-engine ones that use gasoline and gas, thus contributing to decarbonisation.

“Through Zoomcar Green programme, we are keen to create a greener environment by extending the eco-friendly car market, with investments amounting to $2 million over a period of up to 12 months and plan to reach the highest return on investment,” said the Vice President and Country Manager of Zoomcar Egypt Hany Olma.

“The programme contributes to building an integrated and sustainable ecosystem, and promoting the green economy. This comes as part of our commitment to improve the quality of life for future generations, in line with COP27 recommendations to transform towards using electric cars. Our programme is also a part of our social responsibility to preserve the environment in order to mitigate climate change,” Olma added.  

About 20,000 bookings were recorded last year.

Last month, the company announced a final merger agreement with Innovative International Acquisition Corp, under which the company is listed on the US Nasdaq Stock Exchange.

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