Egypt’s state-owned El Nasr Automotive Manufacturing Company and China’s Dongfeng Motor have secured an agreement to create electric cars for the first time, in what may be a big success for both countries. Under the terms of the agreement with the Chinese automaker, El Nasr would produce 25,000 electrified vehicles each year.
He went on to say that in two years, locally produced parts will account for 45 percent of the car, rising to 55 percent in two years.
He stated further that locally produced parts will make up 45 percent of the car in two years, and that this figure will climb to 55 percent in two years. Egypt has attempted to revive its domestic auto assembly sector in recent years, including securing a deal with Mercedes-Benz to establish a plant in the Suez Canal Economic Zone. The Government has offered a variety of incentives to automobile businesses interested in establishing assembly plants in the country, including the reduction or elimination of customs costs for imported components and equipment.
Currently, Egypt is ranked as Africa’s second-largest automotive market and the world’s 42nd-largest. In its attempts to cut emissions, the country has been working on a sustainable transportation initiative. To achieve sustainable development, Egypt wants to increase its reliance on renewable energy.
In a report in May 2018, the International Energy Agency revealed that the number of electric vehicles on the road globally achieved a new record of 3.1 million in 2017, up 57 percent compared to the previous year. China, the United States, and Europe are now the world’s three main markets for electric cars, with the United Kingdom intending to ban the sale of new petrol and diesel automobiles in 2040 as the country bid to tackle air pollution.
Tawfik stated the E70 electric vehicles will be utilized to cut pollutants and ensure effective sustainability while keeping up with the growing worldwide trend of electric transportation during the contract signing event with Dongfeng’s earlier this year. Egypt is projected to start producing electric vehicles in mid-2022, with a production capacity of 25,000 cars per year and a starting price of $22,300. Egypt will begin technical inspections in June in preparation for the production of electric vehicles the following year.
Egypt’s late president Gamal Abdel Nasser founded El Nasr Automotive Manufacturing Company in 1959 as part of his aim to transform the country into an industrial powerhouse. In 1960, the company started producing cars at an eight-car-per-day rate. El Nasr continued to operate until 2009 when the government ordered the company’s assets to be liquidated.
