These initiatives are part of a broader effort to support the transition to greener, more economical transportation solutions, and to boost sustainable economic growth, according to an official statement on Tuesday.
The project is scheduled to produce 20,000 cars in the first year so that the production volume will reach 50,000 cars by the end of the fifth year.
Representatives from both companies recently signed a framework agreement. However, key details such as the capital investment and production capacity of the new venture remain undisclosed
The agreement obligated Global Auto to comply with the rules and conditions of the AIDP program
Egypt’s electric vehicle (EV) transition preparedness was ranked 28th out of 35 countries studied in the new Global Electric Mobility Readiness Index (GEMRIX) 2023 by US consulting firm Arthur D. Little
