Egyptian electric mobility firm Blu EV has announced plans to enter Morocco’s electric vehicle (EV) market with a $100 million investment.
The company, which is backed by Egyptian billionaire Naguib Sawiris, will specialize in converting motorcycles from gasoline to electric power.
Speaking to reporters, Blu EV co-founder and Chief Executive Officer, Reda Baalbaki, said the expansion into Morocco will happen by the end of this year and is part of a larger plan to grow gradually across North Africa and the Middle East.
“We intend to invest $100 million in this project. It is part of a strategy to expand in the markets of the Middle East and North Africa after the success we have achieved in similar projects in Egypt,” Baalbaki said.
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.
Baalbaki explained that Blu EV currently operates in several Egyptian cities, including East Cairo, Alexandria, Ismailia, the North Coast, and El Gouna.
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.
Meanwhile, in other African countries, EV adoption has gained traction. Kenya has announced plans to install 45 electric vehicle (EV) charging stations across six counties in the country within the next one year.
