Global statistics indicate that 75% of the world’s carbon dioxide emission is from fossil fuels such as oil, gas & coal while industry and transportation account for the largest share of fossil fuel consumption. So, the development of alternative resources to fossil fuels and focusing on clean transportation will be two basic priorities in the global trend to achieve the Net-Zero goal.
Currently, investment in renewable energy and infrastructure development in the sector has gained great momentum, especially as industrialized countries are the leaders of the movement. Parallel to this, the clean transportation industry has also experienced increasing dynamism and mobility. It has been more than a decade since electric and hybrid cars were commercialized and the world’s major automobile manufacturers have focused a significant part of their investments on the production of electric and hybrid vehicles only recently.
Global statistics show that the use of electric cars has been steadily increasing in recent years, and now the share of electric cars in the global car market has risen to more than 10%. This means that globally 10 out of every 100 cars sold last year were electric. It appears that several factors influence the growing EV and Hybrid vehicle popularity trend.
Karim Investment Holding, taking into account the direction governing the energy and transportation market, has increased its investment in the field of renewable energy and clean transportation. Therefore, the KIH social obligations and moral responsibility to the society and environment will be achieved.
The Kangoro brand, which is a newly established subsidiary of KIH, is exclusively focused on electric vehicles and clean transportation sectors. Kangoro’s goal is to take huge strides in the expansion of clean transportation and the use of electric and hybrid vehicles by strengthening the necessary infrastructure such as installation of charging stations and sales agencies in the countries of the MENA region.
Currently, many countries in the region are facing unprecedented air pollution issues. If the plans to use clean transportation are realized, in addition to a significant reduction in fuel consumption, the center of pollution will also transfer from cities to industrial environments outside them. In addition to saving on fossil fuel consumption and having huge economic benefits for regional governments, use of EVs will also have many environmental benefits and clean air will largely replace pollution in many areas of the region.
Therefore, Kangoro and Karim Investment Holding are making an all-out effort to expand their activities in the MENA region. The company’s goal is to become one of the largest active holdings in the field of clean transportation and distribution of electric vehicles in region by 2030.