{"id":567984,"date":"2020-12-14T04:03:40","date_gmt":"2020-12-14T04:03:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/"},"modified":"2020-12-14T04:03:40","modified_gmt":"2020-12-14T04:03:40","slug":"el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/","title":{"rendered":"El Nasr to sign final contracts for EV production with Dongfeng this month"},"content":{"rendered":"

<\/a> El Nasr Automotive will sign the final contracts this month for its <\/strong>partnership with<\/a><\/strong>China\u2019s Dongfeng<\/a><\/strong> to assemble electric vehicles locally<\/strong>, El Nasr CEO Hany El Kholy tells the local press<\/a>. The partnership will eventually see the assembly of 25k electric vehicles per year, and is expected to cost some EGP 2.5 bn. State coffers will cover half of the cost, El Kholy said. El Nasr Automotive was reportedly in negotiations<\/a> with a syndicate of local banks for a EGP 2 bn loan to establish the EV facility following the signing of an MoU with Dongfeng last June.<\/p>\n

Is there an opening for private sector players to get in on the facility?<\/strong> El Kholy suggested that \u201cthe door is open\u201d for private participation in the project, although it is unclear in what capacity.<\/p>\n

The electric vehicle assembly line will be installed in 2Q2021<\/strong>, said El Kholy, with production of the vehicles expected to begin in 4Q2021<\/a>. El Nasr is currently in talks with local suppliers to meet a local component quota of at least 50%, El Kholy said.<\/p>\n

The government has <\/strong>proposed a number of incentives<\/a><\/strong> to promote the conversion to electric vehicles, including set charging prices and subsidies of up to 50k per vehicle. Public entities will also be required<\/a> to replace 5% of their fleet every year with electric cars. Read more on the El Sisi administration\u2019s push for EVs and the logistical hurdles, including the establishment of costly infrastructure<\/a> such as charging stations networks, which we talk about in our weekly Hardhat vertical.<\/p>\n","protected":false},"excerpt":{"rendered":"

El Nasr Automotive will sign the final contracts this month for its partnership withChina\u2019s Dongfeng to assemble electric vehicles locally, El Nasr CEO Hany El Kholy tells the local press. The partnership will eventually see the assembly of 25k electric vehicles per year, and is expected to cost some EGP 2.5 bn. State coffers will […]<\/p>\n","protected":false},"author":1,"featured_media":567985,"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":[144,419,250,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-dongfeng","tag-el-nasr-automotive","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"ec363919-aa51-4cc5-824e-fb693949d556","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/243.jpg","photo_position":"above","related_issue":[567969],"teaser":"","voice_url":""},"yoast_head":"\nEl Nasr to sign final contracts for EV production with Dongfeng this 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\/2020\/12\/14\/el-nasr-to-sign-final-contracts-for-ev-production-with-dongfeng-this-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Nasr to sign final contracts for EV production with Dongfeng this month\" \/>\n<meta property=\"og:description\" content=\"El Nasr Automotive will sign the final contracts this month for its partnership withChina\u2019s Dongfeng to assemble electric vehicles locally, El Nasr CEO Hany El Kholy tells the local press. The partnership will eventually see the assembly of 25k electric vehicles per year, and is expected to cost some EGP 2.5 bn. 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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":564535,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/score-one-for-evs-in-egypt\/","url_meta":{"origin":567984,"position":1},"title":"Score one for EVs in Egypt","author":"enterpriseam admin","date":"11 February 2021","format":false,"excerpt":"EV assembly in Egypt could begin as early as July: State-owned El Nasr Automotive plans to begin assembling electric vehicles in Egypt some time in July, which is when it plans to complete setting up its assembly lines, El Nasr managing director Hany El Kholy tells the local press. The\u2026","rel":"","context":"In "SPEED ROUND: GREEN ECONOMY"","block_context":{"text":"SPEED ROUND: GREEN ECONOMY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/440.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559402,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/20\/everybody-loves-debt\/","url_meta":{"origin":567984,"position":2},"title":"Everybody loves debt\u2026","author":"enterpriseam admin","date":"20 January 2021","format":false,"excerpt":"A fresh EGP 170 mn securitized bond issuance EFG Hermes is looking to take to market should soon get regulatory approval, Financial Regulatory Authority head Mohamed Omran said yesterday, according to Hapi Journal. The FRA hopes to increase debt instrument issuances by 15-20%, said Omran, particularly considering the increased recent\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563089,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/17\/ev-testing-starts-in-july\/","url_meta":{"origin":567984,"position":3},"title":"EV testing starts in July","author":"enterpriseam admin","date":"17 June 2021","format":false,"excerpt":"Egypt will start testing China\u2019s E70 EV cars next month ahead of launching an assembled-in-Egypt E70 in 2022: State-owned El Nasr Automotive has imported 13 E70 electric passenger cars from China and will begin testing them on Egyptian roads from the beginning of next month, the Public Enterprises Ministry said\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\/2021\/6\/234.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570071,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/17\/el-nasr-automotive-restarts-talks-with-dongfeng-over-ev-manufacturing\/","url_meta":{"origin":567984,"position":4},"title":"El Nasr Automotive restarts talks with Dongfeng over EV manufacturing","author":"enterpriseam admin","date":"17 March 2020","format":false,"excerpt":"State-owned El Nasr Automotive has restarted talks with Wuhan-based Dongfeng, the front-runner to become Egypt\u2019s first domestic electric vehicle manufacturer, after negotiations were temporarily halted due to the covid-19 outbreak, Youm7 reports, citing an official at El Nasr. We noted late last year that El Nasr was conducting a feasibility\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591677,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/12\/el-nasr-preparing-feasibility-study-for-dongfeng-ev-manufacturing-project\/","url_meta":{"origin":567984,"position":5},"title":"El Nasr preparing feasibility study for Dongfeng EV manufacturing project","author":"enterpriseam admin","date":"12 December 2019","format":false,"excerpt":"El Nasr Automotive is preparing a feasibility study to manufacture 25k electric cars in partnership with China's Dongfeng ahead of an agreement expected to be signed in 2Q2020, a government source told the local press. Public Enterprises Minister said last week that the two companies would sign the agreement in\u2026","rel":"","context":"In "Automotive + Transportation"","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=567984"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567984\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567985"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567984"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567984"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}