Al-Nasr Automotive, China Firm Ink Agreement to Make Electric Car in Egypt

A source at the Al-Nasr Automotive Company, an Egyptian leading company in the automobile industry, revealed that the project to manufacture an electric car with a Chinese company is still in place.

The source added that the company has not abandoned its goal of manufacturing an Egyptian car in the company's factories, and in cooperation with one of the major Chinese electric car manufacturers.

The source added, "The Holding Company for Metallurgical Industries, which owns Al-Nasr Company, has been addressed to prepare some required documents before signing the agreement with the Chinese company by next July.

He explained that the support of the national banks for the company will be an important factor to convince the Chinese side to move forward with the important project."

It is noteworthy that it is expected that an electric car will be manufactured in the coming period with the support of the private sector, with the participation of the public business sector in selling, distributing, and promoting the car, and studying the manufacture of batteries, or parts thereof, in the factories of the Al-Nasr Automobile Company.

Egypt is keen to manufacture a new electric car, in cooperation with China, in addition to manufacturing other vehicles, which are a 14-passenger minibus and an electric tok-tok in cooperation with South Korea, within the framework of the government’s plan toward a green economy and a reducing heat emission, especially carbon.

Egypt is one of the countries that plan to eliminate all forms of pollution, especially those produces by fossil fuels of all kinds