Egypt plans to manufacture $20,000 electric vehicles in bid to go green – The National

Egypt plans to manufacture $20,000 electric vehicles in bid to go green – The National

Egypt is joining the Middle East's push to adopt electric cars with a state-owned company contracted to build affordable vehicles with a Chinese firm, taking advantage of the country's renewable energy boom to power them.

Authorities are in contact with three potential companies as they seek a partner for El Nasr Automotive Manufacturing on the project that will see 2 billion Egyptian pounds ($127 million) invested, Public Enterprise Minister Hisham Tawfik said in an interview, without giving names. Production is set to begin in 2023, with output increasing to an annual 20,000 units over three years.

Mr Tawfik said Egypt’s electric model, to be named either E70 or A70, will sell for about $20,000, with half of buyers probably taxi or Uber drivers. That is roughly the same price as Europe’s cheapest EV, Renault’s Dacia Spring, which is made in China.