{"id":81986,"date":"2024-10-29T00:00:00","date_gmt":"2024-10-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/29\/chinas-baic-group-to-set-up-ev-factory-in-egypt-with-local-agent-alkan-auto\/"},"modified":"2024-10-29T00:00:00","modified_gmt":"2024-10-29T00:00:00","slug":"chinas-baic-group-to-set-up-ev-factory-in-egypt-with-local-agent-alkan-auto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/10\/29\/chinas-baic-group-to-set-up-ev-factory-in-egypt-with-local-agent-alkan-auto\/","title":{"rendered":"China\u2019s BAIC group to set up EV factory in Egypt with local agent Alkan Auto"},"content":{"rendered":"

Egypt getting Chinese auto factory:<\/strong> China\u2019s state-owned auto manufacturer BAIC Group has inked an agreement with Egyptian agent Alkan Auto to establish an EV factory in Egypt, with the start of production penciled in for the end of 2025, according to a statement<\/a>. The factory will initially have an annual production capacity of 20k vehicles, which will be ramped up to 50k units by the end of its fifth year of production.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Remember:<\/strong> The Madbouly government has been working to localize the auto industry, introducing the Egyptian Automotive Industry Development Program<\/a> in 2022, which will offer incentives to auto players with the aim of localizing the industry and its feeder industries in efforts to enhance the country\u2019s existing assembly and manufacturing capabilities \u2014 and encouraging new investment to the sector.<\/p>\n

Localization and upping exports are part of the game plan: <\/strong>The cars from the factory are set to be sold locally and exported to Middle Eastern and African markets. The company is also planning to gradually increase the factory\u2019s local component ratio from 48% to 58% over an unspecified time frame. The factory will create 1.2k jobs.<\/p>\n

D\u00e9j\u00e0 vu? <\/strong>We first heard about the project<\/a> in September from unconfirmed local media reports, claiming that the two companies were in talks about the project.<\/p>\n

It originally looked like BAIC was set to partner with Al Nasr on an EV project: <\/strong>We heard that BAIC inked a MoU with the state-owned Al Nasr Automotive<\/a> to produce EVs locally back in June 2022, but we never got any confirmation<\/a> that final contracts were signed.<\/p>\n

This is far from the only Chinese auto factory in the pipeline: <\/strong>In September, we heard from unconfirmed reports that Chinese auto giant BYD through its local agent was negotiating to produce<\/a> two new models locally. In the same month, we also heard that Dayun Guangzhou \u2014 whose motorized tricycles and motorcycles are familiar sights on Egyptian roads \u2014 also wants to expand its range of vehicles assembled here<\/a> to also include passenger cars, light transport vehicles, and trucks. Also Kasrawy Group is reportedly looking<\/a> to begin locally assembling Chinese Jetour and Jac car models.<\/p>\n","protected":false},"excerpt":{"rendered":"

The factory will initially have an annual production capacity of 20k vehicles, which will be ramped up to 50k units by the end of its fifth year<\/p>\n","protected":false},"author":1,"featured_media":81987,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[22],"tags":[248,49,370,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-zones","tag-china","tag-egypt","tag-ev","tag-zones","wpautop","entry"],"acf":{"mongo_id":"28adb3c3-1b34-4b44-8fc7-6b84ecc5644f","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/2535.jpg","photo_position":"above","homepage_title":"","full_issue_title":"China\u2019s 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