Friday 22 Nov
Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport witnessed the signing of an agreement between the Chinese BAIC Company and Alkan Auto Company, a subsidiary of the Egyptian Global Automotive Group, to establish a manufacturing plant for electric vehicles in Egypt.
At the beginning of the meeting, the minister indicated that the signing comes within the framework of implementing the directives of President Abdel Fattah El-Sisi, President of the Republic, to transform Egypt into a regional industrial center, work on localizing the automotive industry and its supporting industries in Egypt, and maximizing the role of the private sector in the field of industry.
The minister expressed
satisfaction with the fruitful and constructive collaboration between the two
companies. The ministry is eager to support this new project and expedite its
transition to the production phase. The Industrial Development Authority has already
allocated the necessary industrial land, and the ministry is fully prepared to
expedite all industrial licensing procedures to facilitate the commencement of
production.
The Ministry of Industry aims to
deepen local manufacturing, attract global investments, and meet both domestic
and international demand, particularly in the Middle East and Africa. The
ministry is committed to providing comprehensive support to global automotive
companies, fostering real investments, promoting local industry, and creating
job opportunities for young Egyptians.
The new plant, scheduled to
commence operations in late 2025, will span 120,000 square meters. It will
produce 20,000 electric vehicles annually, with production capacity projected
to reach 50,000 units by the fifth year. The project will have a significant
local component, initially at 48% and targeted to increase to 58%. It is
estimated to generate 1,200 new jobs.
Song Wei, President of BAIC,
expressed the company's commitment to strengthening its presence in the
Egyptian market, a key regional hub. The recent launch of a new car model in
Egypt marked the first global launch for BAIC, underscoring the market's
importance. With a long history in China and a strong focus on electric vehicle
technology, BAIC aims to produce high-quality vehicles for both domestic and
international markets.
The agreement was signed by Zhao Bingfei, Vice President of BAIC, and Engineer Khaled Nasr, Chairman of the Board of Directors of Alkan Auto. The ceremony was attended by key officials from both companies, including Song Wei, President of BAIC, Engineer Taher Lashin, Executive Director and Managing Director of the Egyptian Global Automotive Group, and Engineer Ahmed Al-Khadam, General Manager of Kia and BAIC brands.
