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Egypt to start manufacturing FAW EVs in less than a year. PLUS: Pharma, commodities, telecom news
Production will be scaled up over the next three to five years
GV Auto signs agreement with China’s FAW to manufacture, assemble, distribute, and export EVs
The companies plan to establish a hub from which they aims to export EVs from Egypt
Last night’s talk shows were electric with talk of EV charging points
Our friends at Infinity Power currently have 700 charging outlets spread across 170 stations in 14 governorates, Fouad added.
What are Egypt’s targets and spending plans for the green economy in FY 2024-25?
The gov’t aims to generate 20% of its electricity from renewables in the coming fiscal year
Kastour teams up with China’s Foton to assemble electric buses. PLUS: Ashry Steel, Radwan, Mylerz, SODIC, RMBV
The buses will go to both public and privately-owned public transportation providers and the two companies
Waja Group ventures into the EV industry in Egypt in partnership with Arab Organization for Industrialisation. PLUS: Al Mansour to expand MG range
The business partners are looking to set up a JV
Saudi Arabia’s PIF solidifies position in US EV maker Lucid with additional USD 1 bn stake
A share of the proceeds will finance Lucid’s capex and working capital
Shift EV eyes larger 50k annual capacity factory. PLUS: GB Auto Jordan expansion, El Gouna solar power, oil and gas news, debt news, regulations news, NBE earnings
The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC
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