Minister of Military Production Mohamed El-Assar witnessed on Friday the signing of a memorandum of understanding (MoU) with Chinese Geely Company for manufacturing electric vehicles.
This comes in light of the Ministry's Production efforts to localize the manufacture of electric vehicles in Egypt, including buses, taxi, and private cars.
It also coincides with a local and global tendency to increase the use of e-vehicles, which is the future of transportation.
The spread of e-vehicles has a better economic return than gasoline and diesel due to lower maintenance costs, and environmental advantages that comply with international environmental standards through the elimination of carbon emissions.
On his part, the Vice Chairman of Geely explained that the company began in the manufacture of passenger cars since 1997 and succeeded in reaching international markets through the development of its products on an ongoing basis to keep pace with the intense competition in this sector.
"The company aspires to cooperate with the Ministry of Military Production due to the availability of high-level potential, which paves the way for a strategic partnership between the two sides in the field of electric vehicles," he added.
The vice chairman stressed that the company seeks to meet the demands of the Egyptian market through products that suit the atmosphere and roads in Egypt.
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