The Madbouly government wants to give auto assembly and car part manufacturing a boost: Prime Minister Moustafa Madbouly met with the Supreme Council for the Automotive Industry to discuss ongoing efforts to promote the domestic assembly of vehicles and manufacturing of car parts as part of the National Automotive Industry Development Program that was launched in 2022, according to a Cabinet statement yesterday.

A localized and digitally connected auto industry: The meeting approved the launch of a new digital platform that will connect local car part suppliers, manufacturers, and assemblers to promote the localization of the industry. The platform that is “ready to launch” will be managed by the state-owned fintech player e-Finance and launched in 12 weeks, according to Cabinet spokesperson Sameh El Khasin, who was quoted in the statement.

More electric car manufacturing incentives are on their way, and they might already be working: Madoubly pushed for planned incentives to promote electric car manufacturing to be sped up and put into action and for limits to fossil fuel-powered auto imports to support both our localization efforts and climate change goals. Existing EV incentives might also already be working, as Al Nasr Automotive is close to signing another contract with a Chinese company and a local partner for the production of electric vehicles and that production lines are being modernized in preparation, a source from the Public Enterprises Ministry told Enterprise yesterday.

LNG-powered buses with 60% local components are also on their way: Buses made with 60% local components that run on LNG are also on their way and a few have already rolled off the production line, our source at the Public Enterprises Ministry told us. The Transport Ministry is currently negotiating with the currently unknown company to incorporate the vehicles into its fleet, our source added.

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