Public Business Sector Minister Hesham Tawfik revealed that Egypt will start manufacturing electric cars in 2022, with an initial capacity of 100 cars during the first year.
He noted that a protocol has been signed with an Egyptian company to manufacture the battery, whose cost alone is estimated at 30 percent of the car's total price. Only the motor, whose cost is 13 percent of the car's price, will be imported.
The cars will be manufactured at the state-owned El-Nasr Automotive Manufacturing under a memorandum of understanding (MoU) inked with the Chinese Dongfeng Motor Industry Import & Export Co. (DFMIEC), Tawfik told MBC Misr TV channel late on Saturday night.
The minister said local components will be used by 58 percent in manufacturing the new electric-powered cars.
The minister said that financial support of EGP 50,000 would be provided for the buyer of such cars, with no replacement of the old fuel-run car.
The electric car would be offered in three types: the first will have the smallest battery and can go 250 km per charge, the second type can run 400 km, and the third one has the capability to cover a 508 km trip, Tawfik said