BYD shoots to the top of Egypt’s EV charts

From the newsletter

Chinese electric vehicle manufacturer BYD has become the largest EV seller in Egypt, surpassing German giants Volkswagen, Mercedes-Benz and BMW that have long controlled the market. Official data from the Egyptian General Traffic Department shows the carmaker sold 104 electric cars in April 2025, more than any other company.    

• BYD’s rapid rise in the Egyptian car market mirrors its trajectory across the continent. The company’s growth is fueled by its lower pricing and scale, undercutting its competitors.  

• The company now commands 17.4% of Egypt’s electric car market, but this is expected to increase further as BYD continues to introduce new models, including some of the world’s cheapest EVs. 

More details

• During the month, 597 new electric cars were registered in Egypt, with BYD emerging the top seller. It was followed by Volkswagen, BMW and Mercedes-Benz, the traditional EV heavyweights in the country which sold 95 and 79 cars each respectively.

• Nissan and MG Motors each sold 28 cars during the month, while Xpeng and Fiat sold 25 and 22 units respectively. Avatr and Zeekr closed the top 10 positions, selling 15 and 14 cars respectively, while Rocks emerged 11^th after selling seven vehicles.

• April’s electric car registrations mean the total number of newly licensed electric vehicle licenses in Egypt since July 2021 has reached 13,359, highlighting a significant increase in the North African country’s adoption of EVs. 

• Egypt's EV market is evolving rapidly, with competition intensifying as more players, especially Chinese manufacturers such as BYD and Xpeng enter the space. The Herfindahl-Hirschman Index (HHI), which measures market concentration, has decreased from 10,000 in 2017 to 8,765 in 2023, indicating that the market is becoming less monopolised and more competitive.

• The North African country has introduced incentives such as subsidies, tax exemptions and reduced customs duties to attract global automakers and encourage local manufacturing. Investments in charging stations and EV-friendly policies are also making adoption more feasible.

• The Egyptian EV market was valued at $10.22 billion in 2024 and is projected to reach $20.08 billion by 2030, growing at a CAGR of 12.03%. The unit sales of EVs in Egypt are also expected to reach 117,000 by 2029, reflecting steady adoption. 

Our take

• BYD has shown in recent years that no other EV company in the world can compete with it on scale and price. It means that the company is set to dominate the market, especially in Africa where there are no established players. 

• While Egypt boasts universal access to electricity, it lacks enough charging stations especially outside major cities like Cairo and Alexandria. Addressing these shortfalls will be key in boosting EV sales. 

• Egypt, like other African countries, relies heavily on EV imports. While the government is collaborating with Chinese manufacturers to produce Egypt’s first locally assembled EVs, such projects should be scaled to reduce reliance on imports.