EGYPT – Nasr Automotive Manufacturing Company, of the Ministry of Public Enterprise, has signed two agreements with China’s Dongfeng Motor Corporation to reconstruct its factory to produce the first electric car in Egypt.
El Kholy said that the percentage of local components in Egyptian electric vehicles will reach 58%.
He added that El Nasr has contracted with the Chinese company to replace the latter’s current factory, with production to begin within 12 months.
El Kholy also said that the investment cost of the development process will reach about EGP 2bn. He added that 70% of the cost of qualifying the factory for the production of electric cars will be provided by several banks, with the rest coming from self-financing.
The project will contribute to decreasing vehicle imports, opening Egypt’s export market, reducing pollution, and expanding clean electricity projects. It will also help Egypt build an electric car industry, whilst striving to manufacture vehicles that are 100% locally produced.
Vehicles manufactured under the El Nasr Automotive-Dongfeng agreement will be produced according to distinctive specifications. They will be able to travel for 400km in a single charge, with the battery rapidly charging to 80% capacity within 30 minutes.
The vehicles will be able to reach a maximum speed of 145km/hr and go from 0-100km/hr in 10.8 seconds.
Dongfeng is one of the largest car manufacturers in China, with a production capacity of 3.6m cars annually.
So far, 300 electric cars operate in Egypt and about 400 charging stations are available. The plan, according to Tawfik, is not only to produce electric cars, but to turn the country into a hub for the industry. In such case, fuel consumption will be reduced as well as harmful emissions.