Egypt to Launch Assembly of New Electric Vehicles in Collaboration with China

Egypt is set to assemble electric vehicles, emphasizing local production and cooperation with China. Production will happen in stages, gradually increasing local components from 45% to over 60%. A training center will also be established to enhance local expertise.

Egypt is embarking on an ambitious journey into electric vehicle (EV) production, as outlined by Prime Minister Mostafa Madbouly. Speaking to a Chinese delegation, he highlighted the nation’s commitment to boost local production capabilities while also fostering strong ties with China, recognized for its prowess in the EV sector. This initiative comes as part of Egypt’s wider strategy to enhance its automotive industry, particularly in the realm of environmentally-friendly transportation.

The prime minister detailed plans to assemble new electric vehicle models at a local facility, marking a significant move toward localized production. This venture will unfold in three phases, with an initial local component ratio of 45%, expected to rise to over 60% by the final stage. This gradual increase signifies a concerted effort to enhance self-sufficiency in automotive manufacturing.

Additionally, Madbouly stressed the importance of these localization efforts, stating they are overseen by a dedicated government team. He emphasized that attracting investments in this burgeoning sector is paramount, showcasing Egypt’s eagerness to support and grow this industry further. It appears the local authorities are keenly aware of the vital role that the EV market can play in their economic future.

On the Chinese side, officials have expressed their intent to contribute to this initiative by establishing a training center in Egypt. This center aims to equip local specialists with necessary skills and technological know-how, which could significantly enhance Egypt’s production capabilities. It seems that both nations are poised to benefit from mutual cooperation in this invigorating sector.

Interestingly, prior reports have indicated that China is also planning EV production initiatives in Kazakhstan, demonstrating its broader strategy to strengthen its footprint in global electric vehicle markets.

In summary, Egypt is taking significant strides towards establishing a local electric vehicle manufacturing industry. With the support of China, the initiative focuses on increasing local component production over three stages. The collaboration also includes plans for a training center in Egypt to enhance skill development. This development signifies a critical step in Egypt’s strategy to prioritize eco-friendly transport and strengthen its automotive sector.

Original Source: qazinform.com