Egypt to start assembling new generation electric vehicles

Egyptian Prime Minister Mostafa Madbouly said the country is keen to accelerate the localization of electric vehicle production and intensify cooperation with China, which holds a leading position in the industry. This is reported by MENA, a partner of TV BRICS.

During a meeting with a Chinese delegation, the prime minister emphasized that the development of the automotive industry is a priority of the government's strategy, especially in the eco-friendly transport segment. He noted that Egypt has already adopted a special law stimulating the localization of car production and expressed readiness to expand bilateral cooperation.

As part of the agreements reached, the country will organize the assembly of new electric car models at a local plant for the first time. The production will start in three stages and the level of local components will be gradually increased from 45 percent in the first stage to more than 60 percent in the third.

The Prime Minister said that localization efforts are being led by a special state team and reiterated Egypt's interest in attracting investment in the automotive industry.