Minister of Public Enterprise Sector Hisham Tawfik said the ministry is currently in talks over potential partners to Nasr Automotive for the manufacturing of Egyptian electric vehicles (EV).
Backdrop🔙 The ministry had already agreed with Chinese auto manufacturer Dongfeng to locally assemble EVs, but the deal eventually fell through after unsuccessful negotiations.
More Details🧐 The three potential partners are also Chinese auto manufacturers, but haven’t been named. Tawfik said the EV car model will either be called A70 or E70, & available at a $20,000 (a little more than EGP 300k as of yesterday) price tag.
Why is this Important🤔 Production is scheduled to start in 2023, with production capacity increasing to 20,000 units annually over three years. Tawfik predicts that half of the buyers will be taxi or Uber drivers.
