Prime Minister Mostafa Madbouly affirmed the government’s readiness to offer ‘out-of-the-box incentives’ to localize electric vehicle (EV) manufacturing in Egypt.

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir signed a licensing contract for Green Valley Company to promote green transportation

Mansour Automotive Company, in collaboration with SAICMG, is working on establishing a new factory in Egypt for assembling conventional and electric MG Motors cars.

El Nasr Automotive Manufacturing Company has officially resumed operations after a 15-year hiatus, marking a significant step in Egypt's efforts to revitalize its national industry.

BAIC International is in talks with the Egyptian government to set up a local assembly plant for its vehicles.

Dynamics, the local agent for Fiat in Egypt, is set to bring the Italian automaker's electric vehicles (EVs) to the Egyptian market next year.

Al-Mansour Automotive Co is planning to invest $35 million into the establishment of a factory to locally assemble cars and manufacture spare parts.

Egyptian Minister of Finance Mohamed Maait announced an incentive for green hydrogen production ranging between 55% and 33% of tax dues.

Meanwhile, AASTMT’s Dean said that manufacturing the first electric car with 60% of local components will begin within six months, adding the vehicle's local components will be raised to 90% in 24 months from the start of production, through a research project funded by the ASRT.

The premier added that the “Environmentally Friendly Automotive Industry Finance Fund” which was established by the finance ministry aims to develop the auto industry sector in Egypt, and to develop the necessary resources to finance the eco-friendly auto industry.

Mohamed Abou Ghaly, CEO of Abou Ghaly Motors, said that the Geely Geometry C EV will be delivered through Abou Ghaly’s freezone company in Alexandria during the near future at a price of $37,900 for the first category and for 39,000 for the second category.