{"id":581236,"date":"2023-02-22T00:00:00","date_gmt":"2023-02-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/22\/the-aast-is-promising-ultra-cheap-locally-assembled-evs\/"},"modified":"2023-02-22T00:00:00","modified_gmt":"2023-02-22T00:00:00","slug":"the-aast-is-promising-ultra-cheap-locally-assembled-evs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/22\/the-aast-is-promising-ultra-cheap-locally-assembled-evs\/","title":{"rendered":"The AAST is promising ultra-cheap, locally-assembled EVs"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It was a mixed bag on talk shows yesterday:<\/span><span style=\"\"> Kelma Akhira\u2019s Lamees El Hadidi discussed <\/span><span style=\"font-weight:400;\">Egypt\u2019s debut sukuk issuance with Tarek El Metwally, the former head of Blom Bank Egypt (more on this in the news well above), Transport Minister Kamel El Wazir made an appearance on Ala Mas\u2019ouleety to talk about new capital transport links and metro fare hikes (see above), and Al Hayah Al Youm looked at the latest initiative to locally produce electric cars in Egypt.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Ultra-cheap, locally-assembled electric cars?<\/span><span style=\"\"> The Arab Academy for Science, Technology <\/span><span>and Maritime Transport (AAST) has added its name to the list of companies proposing to start assembling EVs in Egypt, and says it can do it at an ultra-low price. In an <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/english.ahram.org.eg\/NewsContent\/1\/1235\/488063\/Egypt\/Urban--Transport\/Egypt-to-launch-first-locally-manufactured-electri.aspx\" style=\"\">announcement Tuesday<\/a><\/span><span style=\"font-weight:400;\">, the Arab League-run university said it will launch the country\u2019s first Egypt-made EVs in the next six months, and will sell them at prices far below cars manufactured by international auto firms.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Yahduth fi Masr picked up the news last night<\/span><span style=\"\"> following <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0yoRkap2qHpb6AZcVnWGvpHnryKd3PRWqDKRVBxXjbb1PjrD6MuVj7ZdoJJQcfDREl\" style=\"\">talks<\/a><\/span><span style=\"\"> between Prime Minister <\/span><span>Moustafa Madbouly and AAST representatives, and spoke to AAST Dean of Applied Research Mohamed Elghamry, who is behind the project (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4YYW989kmVE\" style=\"\">watch,<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4YYW989kmVE\" style=\"\">runtime<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4YYW989kmVE\" style=\"\">: 11:01<\/a><\/span><span style=\"font-weight:400;\">). The vehicles will be sold at between EGP 100k and EGP 170k, Elghamry said, adding that the initiative is attempting to address the high prices of traditional cars in the market. The first batch of EVs will go on sale in the second half of the year, and 500 vehicles will be produced in the initial phase, he revealed. Around 60% of the components will be sourced from local suppliers but AAST hopes to increase this to 100% in the future.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Meanwhile:<\/span><span style=\"\"> Masa\u2019a DMC took note of the Higher Education Ministry opening the door for <\/span><span>applications for a new AAST-backed grant for local EV assembly and technology transfer, with a deadline set for 15 March (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=TkPh5i0OQh4\" style=\"\">watch, runtime: 5:47<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was a mixed bag on talk shows yesterday: Kelma Akhira\u2019s Lamees El Hadidi discussed Egypt\u2019s debut sukuk issuance with Tarek El Metwally, the former head of Blom Bank Egypt (more on this in the news well above), Transport Minister Kamel El Wazir made an appearance on Ala Mas\u2019ouleety to talk about new capital transport [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581237,"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":[7232],"tags":[144,72,356,106],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-automotive","tag-enterpriseam","tag-evs","tag-last-nights-talk-shows","wpautop","entry"],"acf":{"mongo_id":"f534b97d-e913-458e-bfd0-7af5813d916a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/EVs-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581222],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.7853ab3f-0369-4cec-99d2-9cf8469ef487.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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