Electricity & Power
Egypt’s Electric vehicle production plan to be announced this week
EV production plans seeing the light? A project to locally assemble electric vehicles between the Military Production Ministry and an unnamed international company will officially be announced this Wednesday, Youm7 reports.
The article does not name the company, but our guess is that this is a revival of the National Organization for Military Production’s (NOMP) 2019 MoU with China’s Geely. According to the newspaper, the ministry’s Helwan Machinery and Equipment Company will set up and operate the production lines.
What are the specs? All we know so far is that the vehicles produced will meet a 45% local component quota.
Full speed ahead towards our electric future: The project’s kick-off comes on the heels of state-owned El Nasr moving ahead with locally producing EVs with China’s Dongfeng, after signing the contracts earlier this month. This all comes as the country’s infrastructure to accommodate electric vehicles is expanding and should include more than 3k charging stations by 2024. The NOMP had also signed an MoU with China’s SSE International and Marathon International Technology to begin production of EV charging stations.