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Egypt’s Aging Vehicle Replacement Initiative delivers 27,172 environmentally friendly cars

The  Aging Vehicle Replacement Initiative has so far delivered 27,172 environmentally friendly cars to owners, despite the challenges related to the global automotive industry, announced the spokesperson for the initiative Tamer Abdel-Zaher.

In a telephone interview to the “Al-Youm” TV program on Wednesday, he said that the initiative has other vehicle replacement requests amounting to 45,000 applicants, from car owners who need to replace their old cars with ones that run on natural gas.

He noted that the Ministry of Finance has paid about LE670 million as a “green incentive” for the initiative.

Introducing the initiative within any new governorate depends on preparations from the Ministries of Petroleum, Local Development and Interior, and the approval of the cabinet, he explained.

Coordination has begun with companies working in electric cars for the initiative, which will have a positive factor on the environment, he added.

Under the initiative, private car owners can get 10 percent off of the cost of a new car, up to LE22,000, and taxi owners can get a 20 percent incentive, up to LE45,000.

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