Despite the hard economic hardship in the Mediterranean country, Lebanon has been able to manufacture an automobile named ‘ Quds Rise’-the Arabic name for Jerusalem.
The Red Sports Car-‘Quds Rise’ is the brainchild of Lebanese-born Palestinian businessman Jihad Muhammad who is also the director of Lebanon-based firm EV Electra.
The red Sports Car was unveiled for the first time at a parking lot south of Beirut and will be sold at $300,000. ‘’It’s the first automobile to be made locally’’, quoted Muhammad by Agence France-Presse.’’ It was built in Lebanon ‘from start to finish
Muhammad whose plan is to start the production of up to 10,000 units of the electric sports car in Lebanon later this year, also has the long–term dream of selling the vehicles in Lebanon and as well compete in the international market for both hybrid and electric cars.
Muhammad’s Ev dream and the Qud’s Rise project came at a difficult economic period in the Mediterranean country. The sales of imported cars in the country are very low, partly because of capital control as well as the drastic devaluation of the black market.
According to the Association of Automobile Importers in Lebanon, car dealers sold only 62 new cars in the country in the first two months of 2021. This is estimated at 97% less than the units sold in the same period last year. However, EV Electra is determined to sell its vehicles and also offer its potential clients the opportunity to pay for half of the new electric car in dollars, with the rest paid in Lebanese pounds at an exchange rate better than the black market and this could be paid in five years without interest.
EV Electra is also having in his plan to set up about 100 electric charging stations across the country connected to generators which could later be fuelled by solar and wind power generation.
According to Jessica Obeid, independent energy analyst, ‘’If the electric vehicles have solar charging stations, then this would be a step in the right direction,’’
Recall that EV Electra was established about four years ago with about 300 staff including Lebanese and Palestinian engineers.
Source: Google