Despite raising over $27 million in funding since its inception in 2016, the company had only £180,000 (approximately $225,000) left to settle its obligations as of the date of filing for insolvency...
Naguib Sawiris's battery-swapping group has built the largest network of its kind in the Middle East and North Africa. Whether each cabinet earns back the batteries it cycles is a question it has not answered.
