By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    CBE considers raising banks' reserve requirement
    CBE considers raising banks’ reserve requirement
    April 1, 2023
    Banks discuss amending interest rates on their savings, loan products
    Banks discuss amending interest rates on their savings, loan products
    April 1, 2023
    Egypt, EU discuss cooperation in economy, migration
    Egypt, EU discuss cooperation in economy, migration
    April 1, 2023
    Hermes Brokerage tightens its grip on EGX trading in 1Q 2023
    Hermes Brokerage tightens its grip on EGX trading in 1Q 2023
    April 1, 2023
    Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum
    Industry Ministry hands over contracts for 113 industrial units to 60 investors in New Fayoum
    April 1, 2023
  • Politics
    PoliticsShow More
    Ramadan fasting is related with leniency in legal system: Study
    Ramadan fasting is related with leniency in legal system: Study
    April 1, 2023
    Egypt renews its support for comprehensive political settlement in Syria: Shoukry
    Egypt renews its support for comprehensive political settlement in Syria: Shoukry
    April 1, 2023
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    March 31, 2023
    Formes US President Donald Trump Is Indicted in New York
    Trump indicted in hush-money payment case
    March 31, 2023
    Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
    Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
    March 30, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Supported by Chinese experience, El Nasr to produce Egypt’s first EV by 2022
Share
Notification
Latest News
Ramadan fasting is related with leniency in legal system: Study
Ramadan fasting is related with leniency in legal system: Study
Politics Egypt
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Politics Egypt
CBE considers raising banks' reserve requirement
CBE considers raising banks’ reserve requirement
Banking
Banks discuss amending interest rates on their savings, loan products
Banks discuss amending interest rates on their savings, loan products
Banking
Egypt, EU discuss cooperation in economy, migration
Egypt, EU discuss cooperation in economy, migration
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Automotive > Supported by Chinese experience, El Nasr to produce Egypt’s first EV by 2022
AutomotiveIndustry

Supported by Chinese experience, El Nasr to produce Egypt’s first EV by 2022

Shaimaa Al-Aees
Last updated: 2021/01/19 at 9:42 AM
By Shaimaa Al-Aees 2 Min Read
Share
Supported by Chinese experience, El Nasr to produce Egypt’s first EV by 2022
Supported by Chinese experience, El Nasr to produce Egypt’s first EV by 2022
SHARE

Egypt’s state-run El Nasr Automotive and China’s Dongfeng Motor Corporation have signed a contract to produce electric cars for the first time in Egypt.

In a press conference on Monday, El Nasr Automotive CEO and Managing Director Hany El Kholy said that the first electric vehicle will be produced in Egypt at the beginning of 2022.

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.

In the first phase of production, El Nasr Automotive aims to produce 25,000 cars for local consumption, with Dongfeng planning for the possibility of exporting vehicles to Europe.

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.

You Might Also Like

Egypt Automotive Summit’s 7th edition reviews national strategy to develop auto industry

Production of first batch of BMW cars assembled in Egypt to kick-off in 1Q 2023: Global Auto Group

Mercedes-Benz Egypt on track to open logistics hub in Suez Canal Economic Zone 

Parliament’s Industry Committee meets new Industry Minister

Ezz Elarab Group launches Ferrari Egypt

TAGGED: El Nasr Automotive, electric cars
Share this Article
Facebook Twitter Email Print
Previous Article CI Capital’s Taaleem to conclude IPO in H1 of 2021
Next Article National Bank of Egypt, Banque Misr launch Gardenia City with EGP 26bn investment National Bank of Egypt, Banque Misr launch Gardenia City with EGP 26bn investment
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Ramadan fasting is related with leniency in legal system: Study
Ramadan fasting is related with leniency in legal system: Study
Politics Egypt
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Egypt renews its support for comprehensive political settlement in Syria: Shoukry
Politics Egypt
CBE considers raising banks' reserve requirement
CBE considers raising banks’ reserve requirement
Banking
Banks discuss amending interest rates on their savings, loan products
Banks discuss amending interest rates on their savings, loan products
Banking
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?