Chinese car manufacturer studying potential USD 30 mn electric car operation in Egypt

A Chinese car manufacturer is looking to invest USD 30 mn to produce electric cars in Egypt, Federation of Egyptian Industries’ Int’l and Public Affairs Director Khaled Abdel Azim tells Ahram Gate. The company, which Abdel Azim doesn’t name, is conducting studies to learn if it can source 40% of its components locally and so benefit from incentives offered under the new Investment Act.