Egypt, China discuss electric vehicle production

Egypt’s Public Business Sector Minister Hesham Tawfik discussed on Wednesday with a delegation of China’s Dongfeng Sokon firm the production of Egypt’s first electric vehicle and completing negotiations in this regard.

They probed the memo of understanding to be signed in January 2020 on the production of electric vehicles, according to a statement by the ministry.

This will be followed by a feasibility study by the Holding Company for Metallurgical Industries on reviving Nasr Auto Production Company to produce, in cooperation with the Chinese side, electric vehicles.

Nasr Company is Egypt’s state owned automobile company. It is the first Arab vehicle manufacturer.

The company stopped the production of passenger vehicles in 2009. The government decided to liquidate the firm after its debt reached almost 2 billion pounds in 2009.

Source: MENA