Indian car rental platform Zoomcar to invest $25mln in Egypt:

Zoomcar, the largest car-sharing marketplace covering emerging markets and dominating the self-drive car rental market in India, announced the launch of its operations in Egypt as part of its plan to expand to the MENA region.

The car rental platform is committed to injecting long-term investments in Egypt to provide environmentally-friendly transport solutions, the CEO and Co-Founder of Zoomcar, Greg Moran, said in a press conference on Tuesday, according to a statement.

For his part, the Vice President and Egypt Country Head, Hany Olama, said that the company has chosen Egypt as its starting point in the MENA region with investments of $25 million.

The company will first launch its operations in Cairo and then expand to Alexandria, Sharm El-Sheikh, Hurghada, El-Dakahlia, and El-Gharbiya in 2022, Olama added.

It plans to add 5,000 cars by March 2022 to reach 20,000 cars by the end of 2022, Olama revealed.