{"id":79405,"date":"2023-09-06T01:00:23","date_gmt":"2023-09-06T01:00:23","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/09\/06\/egypts-mcv-swedens-volvo-sign-agreement-to-manufacture-electric-buses-for-exports-to-the-eu\/"},"modified":"2023-09-06T01:00:23","modified_gmt":"2023-09-06T01:00:23","slug":"egypts-mcv-swedens-volvo-sign-agreement-to-manufacture-electric-buses-for-exports-to-the-eu","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/09\/06\/egypts-mcv-swedens-volvo-sign-agreement-to-manufacture-electric-buses-for-exports-to-the-eu\/","title":{"rendered":"Egypt\u2019s MCV, Sweden\u2019s Volvo sign agreement to manufacture electric buses for exports to the EU"},"content":{"rendered":"

<\/a>Europe is getting Egyptian electric buses<\/strong>:<\/strong> Egypt\u2019s vehicle manufacturer Manufacturing<\/a>Commercial Vehicles<\/a> (MCV) has signed an agreement with Sweden\u2019s carmaker Volvo to manufacture electric buses for export to Europe, according to a statement<\/a>. The statement did not reveal the size of the investments being pumped into the project or the timeline for the planned production and export.<\/p>\n

What we know:<\/strong> The zero-emission buses will have a local component percentage of 50%, the statement notes. The agreement comes under an ongoing partnership between MCV and Volvo that began over 20 years ago to manufacture buses for the British market, Trade and Industry Minister Ahmed Samir said in the statement.<\/p>\n

All under a push for clean mobility: <\/strong>Egypt is keen on moving towards the use of clean energy in mass and private transportation by converting vehicles to run on natural gas and electric power, Samir said. He said the government is also working on creating the right environment for a clean energy transition by providing the necessary charging infrastructure for electric vehicles. Egypt has the potential to localize electric vehicles and buses to meet local demand and exports to regional markets and Africa, he said.<\/p>\n

REMEMBER- The country\u2019s EV ambitions are high:<\/strong> While Egypt\u2019s EV industry is still nascent, two auto firms and distributors \u2014 Misr Helwan Automotive<\/a> and Abou Ghaly Motors<\/a> \u2014 introduced EVs to the country\u2019s car market this year. Egypt is supporting Abou Ghaly<\/a> and other private sector players with incentives to get a homegrown EV industry off the ground, with the country\u2019s environment minister expecting the first locally-assembled EVs to roll off production lines<\/a> in 2024.<\/p>\n

Expect more to come:<\/strong> India\u2019s Hinduja Group is expected to sign a final agreement with Egypt to support local EV manufacturing in the country by the end of 4Q 2023, an informed source at Egypt\u2019s Trade and Industry Ministry\u2019s Trade Representation told Enterprise Climate<\/a> last month. Hinduja will pour USD 500 mn as a potential investor in Egypt\u2019s state-owned El Nasr Automotive Manufacturing Company under a bid to manufacture EVs in the country and turn Egypt into a regional hub for EV manufacturing, the source said, adding that some legal procedures are currently being finalized ahead of signing the contract. The signing would come months after Hinduja representatives visited Egypt in May<\/a> for talks on setting up a project to manufacture EVs and spare parts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Europe is getting Egyptian electric buses: Egypt\u2019s vehicle manufacturer ManufacturingCommercial Vehicles (MCV) has signed an agreement with Sweden\u2019s carmaker Volvo to manufacture electric buses for export to Europe, according to a statement. The statement did not reveal the size of the investments being pumped into the project or the timeline for the planned production and […]<\/p>\n","protected":false},"author":1,"featured_media":79406,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[103],"tags":[40,102,11,64,189,1832,1620,1453],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-electric-vehicles","tag-egypt","tag-electric-vehicles","tag-enterpriseclimate","tag-evs","tag-green-industry","tag-mcv","tag-sweden","tag-volvo","wpautop","entry"],"acf":{"mongo_id":"d4dc76fb-7e3d-4bb2-bcbc-89d4a8a110a3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/9\/1686.jpeg","photo_position":"above","related_issue":[79398],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s MCV, Sweden\u2019s Volvo sign agreement to manufacture electric buses for exports to the EU - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/09\/06\/egypts-mcv-swedens-volvo-sign-agreement-to-manufacture-electric-buses-for-exports-to-the-eu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s MCV, Sweden\u2019s Volvo sign agreement to manufacture electric buses for exports to the EU\" \/>\n<meta property=\"og:description\" content=\"Europe is getting Egyptian electric buses: Egypt\u2019s vehicle manufacturer ManufacturingCommercial Vehicles (MCV) has signed an agreement with Sweden\u2019s carmaker Volvo to manufacture electric buses for export to Europe, according to a statement. 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