Egypt targets 100,000 electric vehicles a year by 2032
By the AFREEQUE newsroom, based on Daily News Egypt
Illustrative image · Tom Fisk · Pexels · Licence PexelsEgypt is targeting annual production of up to 100,000 electric vehicles by 2032 to reduce imports and develop exports. The government also plans to manufacture seven metal components locally, with a total capacity of eight million parts a year, according to Daily News Egypt.
Egypt is targeting annual production of up to 100,000 electric vehicles by 2032 as part of its plan to localise the automotive industry, Industry Minister Khaled Hashem announced, according to Daily News Egypt. Prime Minister Mostafa Madbouly reviewed the main points of the plan with the minister and his deputy for strategic affairs, Mohamed Sami.
A major international carmaker plans to produce three electric models in Egypt from 2027. The share of locally manufactured components is to rise from 10% at launch to 27% in 2032, while the government seeks to reduce imports and develop exports to neighbouring markets, according to Daily News Egypt.
The plan also includes an agreement between an international company, Egypt’s El Araby Group and the Arab Organization for Industrialization (AOI) to manufacture seven metal components, with a combined capacity of eight million parts a year. The government is also studying local production of electric motors with the AOI and is working on using locally manufactured batteries in MCV buses, according to the minister.
The strategy comes as import costs have already disrupted Egypt’s car market, on 11 October, according to the article on Egypt’s car market.
