Abdul Latif Jameel Finance has launched a financing program for buyers of electric vehicles (EVs) in Egypt.

With a minimum down payment of 20%, EV buyers can borrow up to EGP3.0 million ($64,064 U.S.) and repay it during a period of up to five years.

Siraj Badqail, CEO of Abdul Latif Jameel Finance, commented: “This program is a valuable investment for the future, offering potential for growth and advancement in the automobile industry. Moreover, it coincides with the government’s initiative to exempt electric vehicles from customs, further emphasizing our commitment to supporting this transition.”

Founded in 1945 and based in Saudi Arabia, Abdul Latif Jameel is a conglomerate that has a presence in more than 35 markets and employs in excess of 11,000 people. Its areas of business include automotive, energy, environmental services, financial services, logistics, electronics, media services, health and real estate.

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