{"id":549130,"date":"2022-09-05T03:30:21","date_gmt":"2022-09-05T03:30:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/"},"modified":"2022-09-05T03:30:21","modified_gmt":"2022-09-05T03:30:21","slug":"el-nasr-could-sign-final-contracts-to-produce-evs-next-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/","title":{"rendered":"El Nasr could sign final contracts to produce EVs next month"},"content":{"rendered":"

<\/a> It only took 3+ years, but El Nasr Auto might finally be ready to finalize contracts <\/strong>for EV assembly: <\/strong>El Nasr Automotive expects to sign final contracts to produce electric vehicles with an unnamed Chinese company in mid-October, Al Borsa<\/a> reported yesterday, citing an anonymous source at the company. The report came hours after Public Enterprise Minister Mahmoud Esmat held a meeting to review the status of the negotiations between El Nasr and a Chinese auto firm. The ministry was tight-lipped on the identity of the Chinese firm and when the contracts would be signed in its statement (pdf)<\/a>.<\/p>\n

So who\u2019s the Chinese company?<\/strong> It\u2019s likely BAIC Group<\/a>, which we were told in June had signed an MoU with El Nasr<\/a> for the production of EVs. At the time production was expected to begin in the middle of 2023 with the aim of putting out the first EVs on the market by 4Q 2023.<\/p>\n

FEV is reportedly bringing the blueprints:<\/strong> State-owned El Nasr is reviewing designs for electric sedans from German vehicle designer FEV ahead of signing the contracts, Al Borsa\u2019s source said.<\/p>\n

Finally, the endgame?<\/strong> El Nasr has been in talks with foreign companies to partner on an EV project for years. The company had entered negotiations with Chinese auto giant Dongfeng back in 2019<\/a> only to pull out more than two years later<\/a> apparently because the two sides were unable to agree on prices for imported components. We had more in our weekly Going Green vertical<\/a> on the renewables industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

It only took 3+ years, but El Nasr Auto might finally be ready to finalize contracts for EV assembly: El Nasr Automotive expects to sign final contracts to produce electric vehicles with an unnamed Chinese company in mid-October, Al Borsa reported yesterday, citing an anonymous source at the company. The report came hours after Public […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[144,116,72,356,131],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549130","post","type-post","status-publish","format-standard","hentry","category-automotive","tag-automotive","tag-china","tag-enterpriseam","tag-evs","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"35e67d37-9ead-40af-b79d-35c2b00fa423","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[549126],"teaser":"","voice_url":""},"yoast_head":"\nEl Nasr could sign final contracts to produce EVs next month - 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\/09\/05\/el-nasr-could-sign-final-contracts-to-produce-evs-next-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Nasr could sign final contracts to produce EVs next month\" \/>\n<meta property=\"og:description\" content=\"It only took 3+ years, but El Nasr Auto might finally be ready to finalize contracts for EV assembly: El Nasr Automotive expects to sign final contracts to produce electric vehicles with an unnamed Chinese company in mid-October, Al Borsa reported yesterday, citing an anonymous source at the company. 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El Nasr Automotive has signed an MoU with Chinese car manufacturer BAIC Group to produce EVs in Egypt and is planning to sign final contracts by the end of July, a source with\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\/2020\/9\/cars-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542780,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/korean-firm-set-to-produce-parts-for-locally-assembled-ev-microbuses\/","url_meta":{"origin":549130,"position":1},"title":"Korean firm set to produce parts for locally assembled EV microbuses","author":"enterpriseam admin","date":"17 January 2022","format":false,"excerpt":"Korean auto firm set to sign agreement on locally assembled EV microbuses this week: State-owned Engineering Automotive Manufacturing Company (EAMCO) is set to sign a cooperation agreement with South Korean auto parts maker Myoung Shin to locally produce electric microbuses \u201cby the end of the week,\u201d Hapi Journal quotes Public\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\/1\/187.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":549130,"position":2},"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. 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