{"id":615713,"date":"2024-02-22T00:00:00","date_gmt":"2024-02-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/"},"modified":"2024-02-22T00:00:00","modified_gmt":"2024-02-22T00:00:00","slug":"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","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/","title":{"rendered":"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"},"content":{"rendered":"<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- Shift EV eyes larger 50k annual capacity factory<\/strong><strong>:<\/strong> Local EV startup Shift EV is exploring opening a new factory in several stages that would eventually be able <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/96921b4e-4217-4ee6-9f3e-7958a808a2ed\" style=\"\" rel=\"noopener\">convert<\/a> 50k petrol-powered cars to EVs a year to keep up with a \u201cmassive increase in demand,\u201d the startup\u2019s CEO and co-founder Aly El Tayeb told Enterprise. Shift EV\u2019s current factory in Sixth of October City is on track to convert 1k vehicles in 2024, with plans to bring its capacity up to 5k vehicles a year, El Tayeb added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expansion abroad is also in the cards: <\/strong>The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC, El Tayeb told us. \u201cWe\u2019re going to continue to manufacture our kits, especially batteries, in Egypt and export them,\u201d El Tayeb added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Big news ahead: <\/strong>Shift EV is gearing up for a big product launch in April or May of this year that will allow it to convert more types of commercial vehicles in, El Tayeb said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#2- GB Corp subsidiary mulls Jordan expansion:<\/strong> GB Corp subsidiary InternationalGroup of Automotive Trading is looking into setting up a passenger car trade and distribution company in Jordan, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2068.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a> yesterday. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>#1- El Gouna doubles down on solar power: <\/strong>Orascom Development\u2019s El Gouna hasinked an EGP 200 mn power purchase agreement with <a target=\"_blank\" href=\"https:\/\/www.solarizegypt.com\/\" style=\"\" rel=\"noopener\">SolarizEgypt<\/a> for the second phase of the town\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6469dcfd-dd91-4462-890d-512c7e36b1d2\" style=\"\" rel=\"noopener\">solar power plant<\/a>, according to local media reports (<a target=\"_blank\" href=\"http:\/\/tinyurl.com\/3sm3tsxh\" style=\"\" rel=\"noopener\">here<\/a> and <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/02\/21\/1768060\" style=\"\" rel=\"noopener\">here<\/a>). Phase two, which will double the plant\u2019s total capacity to 14.4 MW, is expected to come online by 4Q 2024. The first phase of the plant currently generates around 16% of the coastal town\u2019s electricity needs, El Gouna\u2019s CEO Mohamed Amer said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Two Egyptian consortiums <\/strong><strong>are vying for gas distribution licenses in KSA: <\/strong>Aconsortium of Petrojet and Elsewedy Electric and another between Natgas and Petrogas have made it to the Saudi Energy Ministry\u2019s list of companies qualified to bid for dry gas and liquified petroleum gas (LPG) distribution licenses, according to a <a target=\"_blank\" href=\"https:\/\/www.moenergy.gov.sa\/en\/MediaCenter\/News\/Pages\/Ministry-of-Energy-announces-qualified-bidders-for-LPG-distribution-first-stage.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In detail: <\/strong>The Natgas-Petrogas consortium was qualified to bid for a license to establish andoperate LPG filling and storage facilities in addition to a license for wholesale LPG distribution to consumers. While the Petrojet-Elsewedy Electric alliance was only qualified to make bids to establish and operate LPG filling and storage facilities.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Want to find out more? <\/strong>Yesterday\u2019s issue of EnterpriseAM Saudi Arabia has the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/eb359244-eb42-4dcb-ac6f-fc2242080e89\" style=\"\" rel=\"noopener\">full story<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- <\/strong><strong>IPR Energy has USD 110 mn of investments lined up for 2024: <\/strong><a target=\"_blank\" href=\"https:\/\/www.iprenergygroup.com\/\" style=\"\" rel=\"noopener\">IPR Energy<\/a><a target=\"_blank\" href=\"https:\/\/www.iprenergygroup.com\/\" style=\"\" rel=\"noopener\">Group<\/a> has earmarked USD 110 mn for investments during the current year, IPR Founder and Chairman Mahmoud Dabbous told Asharq Business in an interview (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1760243187480772989?s=20\" style=\"\" rel=\"noopener\">watch, runtime: 4:27<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">The company\u2019s current portfolio includes fields in the Western Desert, Nile Delta, Suez Gulf, and south of the New Valley.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Gov\u2019t signs MoU with NPC for green hydrogen production:<\/strong> The Oil Ministry has signed a memorandum of understanding with Al Nasr Petroleum Company (NPC) to assess the possibility of establishing a green hydrogen production unit in Suez, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0fjSA9c81sbzdp5UuzRdPaFqYoLLmhkNNGr2F2AsKWD9xWu5ZUvzaqi5R8KpJ7ZE7l\" style=\"\" rel=\"noopener\">statement<\/a> from the ministry. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- EPROM, Technip sign MoU for cooperation on energy projects:<\/strong> Egyptian Projects Operation and Maintenance (EPROM) and French firm Technip Energies have signed an MoU that will see the two companies exchange expertise and cooperate on \u201copening new global markets,\u201d according to an Oil Ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0TZPfkbQ9oYLhhCYdfx3qC65nPH74VQwGbuetonzxZ7Rn1LCBio7SbWd8dbqHYou8l\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEBT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Emirates NBD Signs EGP 400 mn Loan Agreement with ADIFinance:<\/strong> Emirates NBD Egypt has signed a medium-term EGP 400 mn financing agreement with ADIFinance \u2014 Abu Dhabi Islamic Bank\u2019s leasing unit \u2014 as the latter looks to amplify its support for non-banking financial institutions, Emirates NBD <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2159.pdf\" style=\"\" rel=\"noopener\">joint statement (pdf)<\/a>. <br \/><strong>#2- EBank is getting USD 25 mn from the EBRD to support SMEs:<\/strong> The Export Development Bank of Egypt (EBank) is receiving a USD 25 mn loan from the European Bank for Reconstruction and Development (EBRD) to support SMEs, EBank said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2048.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a>. The loan will \u201cfocus on small exporters in Egypt, will play an important role in supporting the country\u2019s economy, increase the influx of much-needed foreign currency and further encourage investment,\u201d the EBRD said in a <a target=\"_blank\" href=\"https:\/\/www.ebrd.com\/news\/2024\/ebrd-strengthens-support-for-small-businesses-in-egypt.html\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">REGULATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New unified body for managing confiscated assets underway:<\/strong>President AbdelFattah El Sisi has ratified a law to set up a unified body for overseeing the management of seized and confiscated assets \u2014 e.g., possessions linked to criminal activity \u2014 replacing a number of separate state departments that were tasked with the job, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02UoFTJFqVZaoqqx5Wd2cB6DkTzB7dubnFcAV8WpkRH6ghVjMLW7ZtuJSmnjQkrVRWl\" style=\"\" rel=\"noopener\">statement<\/a> from the Finance Ministry.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WASTE MANAGEMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The government broke ground on the Tenth of Ramadan waste management<\/strong><strong>complex <\/strong>yesterday, which will serve Cairo and Qalyubia, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0QYywyhSyMnp91R4F5MEBj3EJwuPpUNUSatdEKKPp85ZH7dZcSUXwybZr8y5Rdtmcl\" style=\"\" rel=\"noopener\">statement<\/a> from the Environment Ministry. The project received USD 14 mn funding from the World Bank. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">EARNINGS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>NBE reports near 120% increase in net income in September: <\/strong>The National Bank of Egypt\u2019s net income rose by just under 120% y-o-y to EGP 50 bn in 9M 2023, up from EGP 23 bn during the previous year, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/2145.pdf\" style=\"\" rel=\"noopener\">the bank\u2019s financials (pdf)<\/a>. The lender also reported an 82% increase in net interest income to EGP 126 bn during the nine-month period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC<\/p>\n","protected":false},"author":1,"featured_media":615714,"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":[7209],"tags":[7384,111,144,7106,7383,302,571,679,257,152,1060,72,356,2371,6543,8393,248,91,2324,151,1634,7234,69,7193],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-615713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-adib","tag-also-on-our-radar","tag-automotive","tag-debt","tag-e-invoicing","tag-earnings","tag-ebrd","tag-egyptian-tax-authority","tag-el-gouna","tag-elsewedy-electric","tag-emirates-nbd","tag-enterpriseam","tag-evs","tag-export-development-bank-of-egypt","tag-gb-corp","tag-ipr-energy","tag-national-bank-of-egypt","tag-oil-and-gas","tag-petrojet","tag-renewables","tag-shift-ev","tag-solar-power","tag-tax","tag-united-bank","wpautop","entry"],"acf":{"mongo_id":"d87b137d-3f3d-436e-9972-6fd934ccddaf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2164.jpg","photo_position":"above","homepage_title":"","full_issue_title":"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","related_issue":[615693],"teaser":"The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.2a39fb46-413c-4217-b924-9eedfa62721b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>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 - 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\/2024\/02\/22\/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\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"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\" \/>\n<meta property=\"og:description\" content=\"The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-22T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"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\",\"datePublished\":\"2024-02-22T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/\"},\"wordCount\":883,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Adib\",\"ALSO ON OUR RADAR\",\"automotive\",\"debt\",\"e-invoicing\",\"earnings\",\"EBRD\",\"Egyptian Tax Authority\",\"El Gouna\",\"Elsewedy Electric\",\"Emirates NBD\",\"EnterpriseAM\",\"EVs\",\"Export Development Bank of Egypt\",\"GB Corp\",\"IPR Energy\",\"National Bank of Egypt\",\"oil and gas\",\"Petrojet\",\"renewables\",\"Shift EV\",\"solar power\",\"tax\",\"United Bank\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/\",\"name\":\"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 - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-02-22T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"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\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"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 - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/","og_locale":"en_US","og_type":"article","og_title":"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","og_description":"The home-grown startup is also considering setting up shop abroad, with an eye on Southern Europe and the GCC","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-02-22T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"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","datePublished":"2024-02-22T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/"},"wordCount":883,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1","keywords":["Adib","ALSO ON OUR RADAR","automotive","debt","e-invoicing","earnings","EBRD","Egyptian Tax Authority","El Gouna","Elsewedy Electric","Emirates NBD","EnterpriseAM","EVs","Export Development Bank of Egypt","GB Corp","IPR Energy","National Bank of Egypt","oil and gas","Petrojet","renewables","Shift EV","solar power","tax","United Bank"],"articleSection":["Also on our Radar"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/","name":"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 - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1","datePublished":"2024-02-22T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/22\/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\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"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"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2164.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":635297,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/29\/govt-to-invest-in-auto-feeding-industries-plus-locally-made-ev-batteries\/","url_meta":{"origin":615713,"position":0},"title":"Gov\u2019t to invest in auto-feeding industries. PLUS: Locally-made EV batteries","author":"enterpriseam admin","date":"29 July 2024","format":false,"excerpt":"Shift EV to supply Raya Auto with locally-produced batteries for its light EVs","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/2272.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574789,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/raya-auto-to-invest-egp-200-mn-in-ev-production\/","url_meta":{"origin":615713,"position":1},"title":"Raya Auto to invest EGP 200 mn in EV production","author":"enterpriseam admin","date":"22 September 2020","format":false,"excerpt":"INVESTMENT WATCH- Raya Auto plans to invest EGP 200 mn in local EV assembly over the next three years: Raya Holding\u2019s automotive arm, Raya Auto, is investing EGP 200 mn in the local production of electric vehicles in the next three years, CEO Mohamed El Naggar said in an emailed\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":656268,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/02\/alkan-natco-and-zero-carbon-plan-major-ev-launches-in-2025\/","url_meta":{"origin":615713,"position":2},"title":"Alkan, NATCO, and Zero Carbon plan major EV launches in 2025","author":"enterpriseam admin","date":"2 December 2024","format":false,"excerpt":"Chinese BAIC group\u2019s local agent Alkan Auto is preparing to launch BAIC\u2019s Arcfox EVs to the market during 1Q 2025","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/1185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577894,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/stellantis-wants-to-build-50k-cars-a-year-here\/","url_meta":{"origin":615713,"position":3},"title":"Stellantis wants to build 50k cars a year here","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"Automobile manufacturer Stellantis Egypt wants to locally produce 50k cars a year, Managing Director Hesham Hosny said at an industry conference this week (watch, runtime: 44:33). \u201cWe plan to have the Middle East and Africa produce 70% of its own automotive needs,\u201d he said. Stellantis is one of the largest\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/157.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":654173,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/29\/chinas-baic-group-to-set-up-ev-factory-in-egypt-with-local-agent-alkan-auto\/","url_meta":{"origin":615713,"position":4},"title":"China\u2019s BAIC group to set up EV factory in Egypt with local agent Alkan Auto","author":"enterpriseam admin","date":"29 October 2024","format":false,"excerpt":"The factory will initially have an annual production capacity of 20k vehicles","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2497.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544720,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/17\/el-nasr-natco-to-set-up-egypts-first-ev-dealership\/","url_meta":{"origin":615713,"position":5},"title":"El Nasr, NATCO to set up Egypt\u2019s first EV dealership","author":"enterpriseam admin","date":"17 March 2022","format":false,"excerpt":"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,\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/224.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/615713","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=615713"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/615713\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/615693"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/615714"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=615713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=615713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=615713"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=615713"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=615713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}