Valu closes EGP 616.75m securitized bond issuance    UK regulator may sanction GB news outlet for impartiality violation    Egypt's Shoukry, Greek counterpart discuss regional security, cooperation in Athens    Midar offers investment opportunities in its newest project, Mada, in East Cairo    Mercon Developments introduces Nurai Project in New Cairo with EGP 10bn investment    Madinaty to host "Fly Over Madinaty" skydiving event    China's revenue drops 2.7% in first four months of '24    Turkish Ambassador to Cairo calls for friendship matches between Türkiye, Egypt    FTSE 100 up, metal miners drive gains    China blocks trade with US defence firms    Egypt's c. bank offers EGP 4b in fixed coupon t-bonds    Health Ministry adopts rapid measures to implement comprehensive health insurance: Abdel Ghaffar    Rafah crossing closure: Over 11k injured await vital treatment amidst humanitarian crisis in Gaza    Nouran Gohar, Diego Elias win at CIB World Squash Championship    Coppola's 'Megalopolis': A 40-Year Dream Unveiled at Cannes    World Bank assesses Cairo's major waste management project    Partnership between HDB, Baheya Foundation: Commitment to empowering women    Venezuela's Maduro imposes 9% tax for pensions    Health Minister emphasises state's commitment to developing nursing sector    K-Movement Culture Week: Decade of Korean cultural exchange in Egypt celebrated with dance, music, and art    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Niger restricts Benin's cargo transport through togo amidst tensions    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Prime Minister Madbouly reviews cooperation with South Sudan    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Beginning of the end
Published in Al-Ahram Weekly on 13 - 07 - 2017

Last week, the motoring world was electrified after the French government, led by President Emmanuel Macron, announced it will ban the sale of petrol and diesel vehicles in the country by 2040. The announcement came a day after the Swedish manufacturer Volvo also announced that by 2019 all its production cars will be either electric or hybrid.
This was coming sooner or later. In the past decade the automotive world especially in Europe faced an increase in environment regulations to decrease emissions. Accordingly, car manufacturers started developing their production lines to meet the new regulations gradually each year, which brought us a wide range of new technologies that squeeze more power from smaller engines aiming to decrease fuel consumption as well as pollution.
But the environment regulations kept on going non-stop giving manufacturers no room to think inside the box, pushing many to start investing in research to start producing hybrid vehicles which have batteries and electric generators that work with an internal combustion engine and a braking system to produce more power to the car.
Afterwards the plug-in hybrids entered the market in Europe, allowing the driver to switch entirely to the electric mode, switching off the internal combustion engine. These cars had bigger batteries which need recharge stations across the country to give the car more range on electric mode operation. Later on, pure electric cars took their share of the automotive industry as the future saviour of the planet.
Beginning of the end
But after the sharp turn from the French government, the whole image will change in the next two years. Manufacturers will start investing in developing hybrid and pure electric cars and no longer on pure internal combustion vehicles because other countries across Europe are expected to follow the path of the French with similar decisions.
Consequently, this has produced some big questions: what are the pros and cons of such decisions and who will be affected? Streets will be much quieter and will enjoy clean fresh air that won't be decaying buildings and harming people's health anymore. What about manufacturers? Car companies will focus their pure internal combustion vehicles on the African, Asian, Russian and Gulf markets until further changes. The manufacturing of batteries and chargers is expected to flourish, and new developments in this sector will increase, providing safer batteries that can operate for longer periods of time with lighter weights that can provide more power and torque to pure electric cars aiming to keep new customers happy and satisfied. Hybrid and pure-electric car owners will save lots of money on servicing and refuelling.
What about mechanics? Their business will definitely be affected in the long run especially in Europe. The fuel business will also probably harm the economic status of countries that provide it, including in the Gulf and North Africa.
But at the same time, like the batteries and chargers market, the energy market will shift to electricity. Countries that have the gift of sunlight and wind will be able to make a profit by exporting electricity to the whole world. Egypt might get a big chunk out of this, as the country is full of a wide range of potential electronic resources like sunlight, wind and the new electricity plants being built across the country.
Should the Egyptian government follow in the footsteps of France? Certainly. Fuel consumption is placing huge pressure on the government's economy, so after finding another reliable source of energy for vehicles in the streets, there will be no need for subsidising fuel anymore.
Also the feedback on the environment will be obvious. With a cleaner environment, health problems like cancer will no longer drain the country's money.
There are even more benefits to come. So what's keeping the world from following the French?


Clic here to read the story from its source.