Today, Monday, Al-Nasr Automotive Manufacturing Company, affiliated to the Holding Company for Metal Industries, which is affiliated with the public business sector, signed two agreements with the Chinese company “Dongfeng”. According to these two agreements, the factory of the “victory” company will be rehabilitated and the production of the first electric car in Egypt.
Development of El Nasr Automotive Company
The signing was made by Eng. Hany El Khouly, Managing Director of the Egyptian Company, and from the Chinese side, Wai Wencheng, CEO of DFMIEC, and Tsang Chen, Executive Director of Dongfeng Research and Design Company of the Chinese Dongfeng Company.
The signing ceremony took place through the visual communication technology “video conference” and in the presence of Hisham Tawfiq, Minister of Public Business Sector, and the Chinese ambassador to Cairo, Liao Lichiang.
Hisham Tawfiq, Minister of Public Business Sector, welcomed the Chinese ambassador to Cairo, praising the depth and strength of relations between Egypt and China, which have witnessed remarkable growth over the past years.
Localizing the electric car industry in Egypt
The minister affirmed in his speech that today marks the beginning of the launch of the Nasr Automotive Industry Company towards the project of localizing the electric car industry in Egypt, in light of the directives of His Excellency President Abdel Fattah Al-Sisi towards the localization of the vehicles industry that uses clean energy.
He pointed out that this project aims to preserve the environment by reducing dependence on fossil fuels and thermal emissions that have a negative impact on people and the economy, as it represents keeping pace with the increasing global trend of electric transport.
Concerning the agreement, the minister revealed that the signing included a framework agreement for the production of the electric vehicle in the Nasr Automobile Company in cooperation with “DFMIEC”, a subsidiary of the leading Chinese Dongfeng Group (which is one of the 4 largest auto manufacturers in China), which produces 3.5 million cars annually. With its main partners in the auto industry in the world, in addition to signing an agreement to renew the plant of the Nasr Automotive Company with the latest technologies and production methods, in cooperation with Dongfeng Design Company.
Hisham Tawfiq explained that the Ministry of Public Business Sector relied on technical and commercial studies in the modern electric car market that resulted in the choice of China, the choice of Dongfeng company, and the selection of the E70 car model, aiming to benefit from the economic and environmental benefits and achieve sustainable success as well as keep pace with the accelerating trend that is racing. Global Industry Mechanism.
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