Wednesday 21 October 2020
Last update on Wednesday, October 21, 2020 At 9:37 AM
The vehicle will be produced as part of a partnership signed with Chinese company Dongfeng to revive the Nasr Automobile Company, an Egyptian automobile company.
Egypt will launch its very first model of electric vehicle “made in Egypt” by the end of 2021. This was announced by Hisham Tawfik, Egyptian Minister of Public Enterprises, during a televised interview.
According to the official, the project will be implemented as part of a partnership with the Chinese company Dongfeng to revive the Nasr Automobile Company, one of the iconic automotive producers in the land of the Pharaohs. The model will be inspired by the electric car LEAF developed by the Japanese company Nissan since 2010 and now a leader in the sector.
Export to the African market
This announcement is in line with the logic of industrialization of the Egyptian economy, implemented several years ago by president Abdel Fattah al-Sisi. This strategy aims to reform the structure of the Egyptian economy, which is emerging from several years of crisis, and to accelerate the development of the country by transforming it into a real regional hub for automobile production.
“With the production of electric cars in Egypt, the government aims to meet the needs of the local market and then export to the Arab, African and European markets,” said in 2019 Amr Nassar, Minister of Commerce.
According to Minister Tawfik, the new model will be sold at around 350,000 Egyptian pounds (22,330 dollars). 45 % of the assembly products for the new car will be of Egyptian origin. This share will increase to 55 % over the next two years.
Source : Ecofin Agency.
