Egypt in talks with three Chinese companies to launch production of electric cars in 2023
Egypt is in contact with Chinese companies with three potential companies for the production of electric cars in 2023 for an investment of $127 million, Bloomberg reported.
The companies, no identified, will collaborate with state-run El Nasr Automotive Manufacturing Co., Public Enterprise Minister Hisham Tawfik told Bloomberg in an interview.
Tawfik also the media production will begin 2023 with 20,000 units annual and over three years.
The car models, the minister added, will be named either E70 or A70; will sell for around $20,000, with half of buyers probably taxi or Uber drivers.
Last week, Huawei will launch during the second half (H2) of 2022 an electric car model in Egypt, supplied with Huawei’s operating system.
Ahmed Abdel-Aal, Vice President of Huawei Egypt also indicated that the company is negotiating with its commercial partners to make the electric car available in Egypt before the end of 2022.
Tawfik also told Bloomberg the private sector be offered a 40% role in a new company established to operate pay-to-use charging stations, with 10% being taken by El Nasr and the remaining half by a “state entity”.
Egypt according Tawfik, will set up a 3,000 charging stations around Cairo and Alexandria over the next two years before they’re introduced elsewhere.
“Egypt now produces all kinds of clean energy,” he said, citing the country’s sizeable wind and solar power projects.