{"id":635297,"date":"2024-07-29T00:00:00","date_gmt":"2024-07-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/29\/govt-to-invest-in-auto-feeding-industries-plus-locally-made-ev-batteries\/"},"modified":"2024-07-29T00:00:00","modified_gmt":"2024-07-29T00:00:00","slug":"govt-to-invest-in-auto-feeding-industries-plus-locally-made-ev-batteries","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/29\/govt-to-invest-in-auto-feeding-industries-plus-locally-made-ev-batteries\/","title":{"rendered":"Gov\u2019t to invest in auto-feeding industries. PLUS: Locally-made EV batteries"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>It was a busy day for automotive news<\/strong>, which comes in line with our localization push and state efforts to localize the automotive industry. <\/p>\n<p class=\"tag-border-left\">THREE FACTORIES FOR AUTO-FEEDING INDUSTRIES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A USD 1.4 bn investment in auto-feeding factories: <\/strong>The government plans to set up three factories for the production of car components in the Sokhna Industrial Zone at a cost of around USD 1.4 bn, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%84%d8%ad%d9%83%d9%88%d9%85%d8%a9-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%a5%d9%86%d8%b4%d8%a7%d8%a1-3-%d9%85%d8%b5%d8%a7%d9%86%d8%b9-%d8%a7%d8%b3%d8%aa%d8%b1%d8%a7%d8%aa%d9%8a%d8%ac%d9%8a%d8%a9\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports citing a government document. The move aims to help localize the automotive industry by increasing the availability of raw materials necessary for automotive production. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The details: <\/strong><span style=\"background-color: transparent;\">The first factory will manufacture interior parts for vehicles and paint components, while the second will specialize in lithium and nickel-cadmium batteries. The third will produce steel structures, panels, and EV batteries.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>General Motors, Nissan, and GB Corp <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bbab4c0b-d0c3-4d53-9949-289663e00369\/automakers-are-already-lining-up-for-the-government%25e2%2580%2599s-local-manufacturing-initiative\" style=\"\" rel=\"noopener\">have registered<\/a> to participate in the upcoming <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a06d4ec-4025-490e-8842-45c8a9fe0d8a\" style=\"\" rel=\"noopener\">Egyptian Automotive Industry Development Program<\/a> (AIDP), which will offer incentives to auto players with the aim of localizing the industry. Companies will need to produce no less than an annual 5k units per model and 10k units per factory to be eligible for the incentive package.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More locally-produced cars? <\/strong>Five automotive players are looking to either expand their local production or start assembling their units locally, a government official told us earlier this month, naming GB Corp, Nissan, Chevrolet, Global Auto, and Kasrawy Group.<\/p>\n<p class=\"tag-border-left\">SHIFT EV TO MAKE BATTERIES FOR RAYA\u2019S EVS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Locally-produced EV batteries: <\/strong>Local EV startup Shift EV will supply Raya Holding\u2019s automotive unit <a target=\"_blank\" href=\"https:\/\/rayaauto.com\/\" style=\"\" rel=\"noopener\">Raya Auto<\/a> with locally-produced batteries for Raya\u2019s light EVs, under a newly-announced partnership, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/7\/2237.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The move \u201cmarks the first regional alliance capable of deep localization of electric mobility technology as Egypt moves towards expanding its industrial base.\u201d <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More to come from the new partnership: <\/strong>The two companies aim to expand their partnership across a range of products in the coming years. \u201cPartnering with Shift EV\u2026enables us to upgrade our premium products with lithium-ion batteries \u2014 proudly made in Egypt,\u201d Raya Auto CEO Mohamed El Naggar said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shift EV to supply Raya Auto with locally-produced batteries for its light EVs<\/p>\n","protected":false},"author":1,"featured_media":635298,"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":[144,72,8321,1634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-635297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-enterpriseam","tag-raya-auto","tag-shift-ev","wpautop","entry"],"acf":{"mongo_id":"595b510c-e5af-4062-a856-717169a979bb","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2272.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian government to invest in auto-feeding industries","related_issue":[635287],"teaser":"Shift EV to supply Raya Auto with locally-produced batteries for its light EVs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.252c9dac-1262-4197-a6d3-60b499c89afe.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>Gov\u2019t to invest in auto-feeding industries. 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