Egypt to Begin Assembling New Generation Electric Vehicles with China
Egypt plans to assemble new generation electric vehicles in collaboration with China, prioritizing localization and eco-friendly transportation. Prime Minister Madbouly emphasized the government’s commitment to the automotive industry, set to increase local components in EV production significantly. A training center by China’s delegation will enhance local expertise and production capacity.
Egypt is set to begin assembling new generation electric vehicles as the country turns its focus toward localizing production and enhancing collaboration with China, a leader in the electric vehicle industry. During a significant meeting with a Chinese delegation, Prime Minister Mostafa Madbouly highlighted that developing the automotive sector, particularly in eco-friendly transportation, is crucial to his government’s strategy. Egypt has enacted a specialized law to stimulate local car production, reinforcing its readiness to bolster bilateral cooperation.
As part of the agreements reached between the two nations, the assembly of new electric car models will commence at a local facility for the first time. The production process is laid out in three stages, with the target of increasing local content from 45 percent in the initial stage to over 60 percent by the final stage. This gradual increase aims to foster self-sufficiency in the automotive sector.
Prime Minister Madbouly stated that a dedicated state team will spearhead the localization efforts, demonstrating Egypt’s ongoing commitment to attracting foreign investment in the automotive industry. This initiative not only highlights the country’s ambitions but also reflects a growing investment climate encouraged by recent legislative changes.
The Chinese delegation reaffirmed its commitment to this venture by announcing plans to establish a training center in Egypt. This center is expected to enhance skill development and facilitate the transfer of technological expertise, further bolstering Egypt’s manufacturing capabilities in the electric vehicle segment. Such initiatives could strengthen Egypt’s position in the global automotive market and promote sustainable transportation options.
Earlier reports had indicated that China is also exploring opportunities for electric vehicle production in Kazakhstan, hinting at wider regional interests in the electric vehicle landscape. Egypt’s efforts, however, signify a focused attempt to harness local resources and expertise to meet growing demands for electric vehicles.
In summary, Egypt is embarking on an ambitious journey to localize electric vehicle production by collaborating with China. The initiative is a key element of its strategy to enhance the automotive sector, with assembly planned in three progressive stages. Moreover, the establishment of a training center by the Chinese delegation underscores a commitment to technology transfer and capacity building, positioning Egypt as a competitive player in the electric vehicle market.
Original Source: qazinform.com
