Egypt's El Nasr Automotive Manufacturing Company signed on Monday two agreements with China Dongfeng Motor Industry Import & Export Co. (DFMIEC), and Dongfeng Design & Research Institute Co. via video conference in the presence of Public Business Sector Minister Hesham Tawfik and Chinese Ambassador in Cairo Liao Liqiang.
Tawfik said the production of Egypt's first locally assembled electric car (Nasr E70) by El Nasr Company falls within the framework of President Abdel Fattah El Sisi's directives to localize the manufacture of green cars.
"The two deals include manufacturing an electric car by El Nasr company in cooperation with DFMIEC, which is affiliated to Dongfeng Company that produces 3.5 million cars annually, as well as renovating the Egyptian company's factory in cooperation with Dongfeng design institute," Tawfik pointed out.
"The Egyptian company will produce 50% of the electric car's components and plans to localize the industry by establishing a research and development center in cooperation with Dongfeng and Brightskies Technologies of Egypt," the minister noted.
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Nasr E70 Electric Car[/caption]
The minister added that the project aims to produce 25,000 cars every year, saying the production is expected to increase according to the demand.
El Nasr also tackles exporting the car to regional markets after its success in the local market.
The first car will be produced within a year from the date of signing the agreements.
It is worth noting that inking today's deals come after one year of negotiations and exchanging technical information between the Egyptian and Chinese sides.
Regarding the car, its top speed will be 150 km/h with a horsepower of 145. It can go 400 km on a single charge equipped with modern safety systems.
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