Egypt’s Minister of Trade and Industry Nevine Gamea and Minister of Military Production Mohamed Ahmed Morsi have witnessed the signing ceremony of a joint manufacturing agreement to produce electric buses in Egypt.
The agreement was signed by the M1A1 Tank Factory (Military Factory 200) and the Manufacturing Commercial Vehicles company (MCV).
Gamea said the agreement supports the Egyptian Government’s current trend towards expanding the use of vehicles that run on clean energy.
The minister noted the importance of expanding industrial cooperation frameworks between the government and the various international and national companies operating in the Egyptian market’s car production capabilities.
This will have the benefit of localising the country’s electric vehicle (EV) industry, and transfer all international experiences and technologies applied in this regard to the national industry.
She noted that her ministry is currently working on developing a comprehensive strategy for Egypt’s auto industry and its feeding industries. The strategy is based on achieving maximum benefit from all elements and the great potential of the Egyptian economy.
This also ensures that a real car industry will be launched that meets the needs of the local market, as well as exports to regional and global markets.
Gamea called for the benefit to be maximised of large manufacturing capabilities under the Ministry of Military Production and the private sector. This will focus on the development of various industrial sectors, especially the automotive industry.
For his part, Morsi said that the agreement’s signing aims at joint cooperation in transferring and localising the technology of manufacturing electric buses.
He stressed that the Ministry of Military Production seeks to meet the local market needs of various products with its manufacturing and technological capabilities. It also takes into account the fact that the country’s employees in this sector have been technically trained at the highest level.
He elaborated that the growth in local market demand represents an important opportunity for the development of Egypt’s auto industry. This, in turn, will lead to the provision of foreign currency that is otherwise spent on importing fully manufactured vehicles.
Karim Ghabbour, CEO of MCV Egypt, stated that his company is a joint stock company and an agent for a German company for manufacturing buses. It holds many quality certificates, that take into account the current growing global trend for this type of vehicle to reduce the impact of traditional vehicles on both environment and economy.
