{"id":544720,"date":"2022-03-17T04:00:22","date_gmt":"2022-03-17T04:00:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/17\/el-nasr-natco-to-set-up-egypts-first-ev-dealership\/"},"modified":"2022-03-17T04:00:22","modified_gmt":"2022-03-17T04:00:22","slug":"el-nasr-natco-to-set-up-egypts-first-ev-dealership","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/17\/el-nasr-natco-to-set-up-egypts-first-ev-dealership\/","title":{"rendered":"El Nasr, NATCO to set up Egypt\u2019s first EV dealership"},"content":{"rendered":"

Egypt is getting its first electric car dealer:<\/strong> State-owned firms El Nasr Automotive and the National Automotive Company (NATCO) will jointly set up Egypt\u2019s first electric car distributor, the Public Enterprises Ministry said in a statement (pdf)<\/a> yesterday. NATCO will hold the controlling 76% stake in the yet-to-be named firm, while El Nasr will hold the remaining 24% stake, according to the statement.<\/p>\n

Exclusive rights to El Nasr EVs: <\/strong>The company will be the sole distributor of Egypt\u2019s first locally-assembled EVs. The cars are set to start rolling off production lines in 2023, once El Nasr finalizes a contract with a foreign partner to locally assemble the cars. Talks collapsed with Chinese auto firm Dongfeng in November<\/a> and the company is currently in talks with several firms interested in partnering in the venture.<\/p>\n

The company will also import + distribute EVs from other manufacturers: <\/strong>The new company will import and distribute various models of electric cars from international manufacturers, the release added, without disclosing names. The company will also offer after-sales services, maintenance and warranties, and financing and ins. on vehicles.<\/p>\n

How much would they cost?<\/strong> Two categories of EVs will be produced, the price of the first category will likely be within the range of EGP 300k, and the other category will have a relatively higher price range, Public Enterprises Minister Hisham Tawfik told Yahduth fi Masr last night (watch, runtime 8:50<\/a>).<\/p>\n

EGP 50k off your first Egyptian EV: <\/strong>The government recently announced that buyers of local EVs will receive cash incentives<\/a> of up to EGP 50k.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt is getting its first electric car dealer: State-owned firms El Nasr Automotive and the National Automotive Company (NATCO) will jointly set up Egypt\u2019s first electric car distributor, the Public Enterprises Ministry said in a statement (pdf) yesterday. NATCO will hold the controlling 76% stake in the yet-to-be named firm, while El Nasr will hold […]<\/p>\n","protected":false},"author":1,"featured_media":544721,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7339],"tags":[144,72,1391,356,1390,79,404],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-enterpriseam","tag-ev-charging-stations","tag-evs","tag-natco","tag-public-enterprises-ministry","tag-public-private-partnership","wpautop","entry"],"acf":{"mongo_id":"4931ca8e-a807-483d-be7c-d713a24af4db","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/224.jpg","photo_position":"above","related_issue":[544708],"teaser":"","voice_url":""},"yoast_head":"\nEl Nasr, NATCO to set up Egypt\u2019s first EV dealership - EnterpriseAM Egypt<\/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\/egypt\/2022\/03\/17\/el-nasr-natco-to-set-up-egypts-first-ev-dealership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Nasr, NATCO to set up Egypt\u2019s first EV dealership\" \/>\n<meta property=\"og:description\" content=\"Egypt is getting its first electric car dealer: State-owned firms El Nasr Automotive and the National Automotive Company (NATCO) will jointly set up Egypt\u2019s first electric car distributor, the Public Enterprises Ministry said in a statement (pdf) yesterday. 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The company wants to become the country\u2019s leading electric vehicle distributor and plans to\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/175.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545603,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/el-nasr-automotive-to-sign-agreement-with-new-chinese-partner-to-locally-assemble-evs\/","url_meta":{"origin":544720,"position":1},"title":"El Nasr Automotive to sign agreement with new Chinese partner to locally assemble EVs","author":"enterpriseam admin","date":"5 April 2022","format":false,"excerpt":"We\u2019re getting a new Chinese partner for EVs: State-owned El Nasr Automotive will sign next week with an unnamed Chinese company to locally assemble electric vehicles (EVs), El Nasr CEO Hany El Kholy told Enterprise. The upcoming agreement for the assembly of the EVs will be \u201cvery different\u201d from the\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564044,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/mercedes-local-partner-plans-egp-1-bn-bond-issuance-to-enter-ev-market\/","url_meta":{"origin":544720,"position":2},"title":"Mercedes\u2019 local partner plans EGP 1 bn bond issuance to enter EV market","author":"enterpriseam admin","date":"4 August 2021","format":false,"excerpt":"A EGP 1 bn bond issuance could help Mercedes\u2019 local partner enter the EV market: The National Automotive Company (NATCO) plans to offer bonds worth EGP 1 bn to expand its distribution network and enter the electric-vehicle (EV) sector, the company said in an emailed statement (pdf). The production and\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/364.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587091,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/22\/alameda-plans-usd-50-mn-hospital-in-new-assiut-plus-mercedes-evs-aibank-tunisian-manufacturer-eyes-egypt\/","url_meta":{"origin":544720,"position":3},"title":"Alameda plans USD 50 mn hospital in New Assiut. PLUS: Mercedes EVs, aiBank, Tunisian manufacturer eyes Egypt","author":"enterpriseam admin","date":"22 May 2023","format":false,"excerpt":"This is part of the healthcare provider\u2019s EGP 5 bn expansion plan","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1180.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572232,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/egypts-mih-signs-mou-to-produce-30k-cars-for-3-years-at-el-nasr-automotive\/","url_meta":{"origin":544720,"position":4},"title":"Egypt\u2019s MIH signs MoU to produce 30k cars for 3 years at El Nasr Automotive","author":"enterpriseam admin","date":"16 June 2020","format":false,"excerpt":"MIH signs agreement with int\u2019l automaker to assemble 30k cars per annum at El Nasr Automotive: The state-owned Metallurgical Industries Holding Company (MIH) has signed a preliminary agreement with an undisclosed international company to locally assemble 30k cars annually at El Nasr Automotive, with manufacturing set to begin within three\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553488,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/were-set-to-have-a-new-ev-partner-within-weeks\/","url_meta":{"origin":544720,"position":5},"title":"We\u2019re set to have a new EV partner within weeks","author":"enterpriseam admin","date":"6 December 2021","format":false,"excerpt":"El Nasr\u2019s EV speed dating pool is down to three Chinese partners: State-owned El Nasr Automotive will begin meeting today with three Chinese companies it has shortlisted as its potential partner on locally assembling electric vehicles, Public Enterprises Minister Hisham Tawfik told CNBC Arabia (watch, runtime: 1:44). 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