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FinancialNews
04-07-19
Egypt, DFM mull over electric vehicles
(MENAFN) Egypt is in talks with China's Dongfeng Motor Corporation (DFM) on the development of electric vehicles in the country.
Discussions were held between Egyptian Trade and Industry Minister Amr Nassar and the Chinese automaker giant.
Minister Nassar stated: "with the production of electric cars in Egypt, the government aims to meet the needs of the local market and then to export to Arab, African and European markets."
According to the ministry, the Egyptian government offers investment incentives on the matter since international demand for electric vehicles is high.
It further added that "the Chinese corporation could sign a contract of partnership with an Egyptian state-owned production line for cooperation in manufacturing and assembling electric cars."
MENAFN0407201900450000ID1098721823
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