Prime Minister Moustafa Madbouly unveiled on Tuesday Egypt’s ambition to become a regional hub for Volvo Group’s electric vehicle (EV) production, targeting exports to African and neighbouring markets.
On the sidelines of the 2025 World Economic Forum in Davos, Prime Minister Madbouly held a high-level meeting with Jens Holtinger – Volvo’s Executive Vice President, highlighting the Egyptian government’s readiness to offer tailored incentives to attract Volvo’s investment and support this vision.
The Egyptian government is committed to fostering collaboration with Volvo to align with the state strategy of expanding electric transportation while advancing our environmental goals, the prime minister noted.
Holtinger acknowledged Egypt’s growing infrastructure and strategic location as significant factors in supporting electric vehicle manufacturing. He also expressed Volvo’s enthusiasm to partner with Egypt, describing the country as a promising gateway for EVs into emerging markets.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser