Business Egypt Emerging Markets Headlines

Russian EVs producer Concordia to set up manufacturing factory in Egypt

North Africa PostComments Off on Russian EVs producer Concordia to set up manufacturing factory in Egypt

Concordia, a Russian manufacturer of electric vehicles (EVs), will set up an EV components manufacturing factory in Egypt as part of deal with real estate developer GV Investments.

Per the partnership, GV Investments will provide the plot of land needed for the project and construct the factory, reports say.

The future factory is expected to have a production capacity of up to 5,000 units, with local inputs of EVs’ feeding components of 60% of total inputs.

The project aims to export the products to the Gulf countries and North Africa to boost the economic development in the region.

Concordia will start production by the second half of 2024.

North Africa Post
North Africa Post's news desk is composed of journalists and editors, who are constantly working to provide new and accurate stories to NAP readers.
https://northafricapost.com

Related Articles
Egypt Headlines

Egypt: Cairo slams British envoy’s critics and International condemnation of Al-Jazeera journos’ sentences

North Africa Post

Egyptian foreign ministry summoned the British ambassador to Egypt and criticized the international barrage over court ruling on the Al Jazeera journalists accused of “false information”. The British ambassador John Casson was summoned Sunday by the Foreign Ministry after he described on Saturday the court ruling handing three year prison sentence to three Al-Jazeera journalists […]
Egypt Features Headlines

Egypt braces for Civil War from Friday

North Africa Post

Egypt could be taken an unprecedented turn on Friday if the calls of General Al-Sisi for a nationwide demonstration aimed at giving “(Al-Sisi) a mandate and an order to confront possible violence and terrorism” is heeded. He claimed that it will lead to the reduction of bloodshed and promote national reconciliation. The Muslim Brotherhood slammed […]
Asia International

Palestine: Hamas Seeks to Smooth Ties with Cairo

North Africa Post

The Hamas delegation that arrived in Cairo on Saturday held its second round of meetings with Egyptian security officials on Sunday in a bid to ease tensions between the two sides. The delegation’s visit takes place a week after Egypt accused Hamas and the Muslim Brotherhood of cooperating in the assassination of Hisham Barakat, the […]