Cairo, Beijing sign agreement to jointly manufacture electric vehicles in Egypt
Egyptian Minister of Military Production Mohamed el Assar and Minister of Trade and Industry Amr Nassar have signed a partnership agreement with China on joint manufacturing of electric vehicles in Egypt.
The agreement was signed by two representatives of Egypt's Military Factory 200 and a representative of China's Foton Motor Co.
The minister of military production said this project will be implemented in Egypt under the aegis of President Abdel Fattah El Sisi upon his directives which are aimed at making these kinds of vehicles to be fully manufactured in the country.
The partnership deal includes joint manufacturing of 2,000 buses within four years, in which the Egyptian component represents 45 percent. Assar added that this project will be followed by other phases of joint manufacturing of other types of electric vehicles in cooperation with the Military Factory 200.
He pointed out to a visit he paid to Foton Motor, during which he made sure that the Chinese company's factory is capable of fulfilling its obligations under the partnership given its great potentials.