Egypt’s MCV partner with Volvo to produce electric buses
Egypt’s Manufacturing Commercial Vehicles (MCV) has partnered on Tuesday with Swedish automotive Volvo to produce electrical buses for export to Europe.
Under the agreement, half of the bus unit components will be produced in Egypt, according to Egypt’s Cabinet statement.
Egypt is now Sweden’s second-largest export market in Africa and the Middle East, with trade between them reaching $1.12 billion in 2022.
In June 2022, the Egyptian government announced a national strategy to localise the automotive industry. This strategy seeks to make Egypt a leader in the emerging vehicles market in Africa.
The strategy aims to launch the Egyptian Automotive Industry Development Programme, which will enhance investment in the sector by developing Egypt’s manufacturing and assembling capabilities.