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Prime Minister at Battery Factory Signing
A report has clarified that Egypt has signed a contract to build a factory for the production of various types of electric batteries, with initial investments exceeding 2 billion Egyptian pounds. The goal is to enhance local manufacturing capabilities and meet the growing demand for clean energy and vehicles. The factory, which will begin production with a capacity of 1 gigawatt-hour annually, aims to cover both domestic and global markets' needs for commercial and secondary vehicle batteries, with a subsequent plan to expand production to include electric vehicle batteries and energy storage systems. The project aims to strengthen Egypt's battery manufacturing industry, reduce reliance on imports, open export opportunities, increase local content to 40%, support the electric vehicle industry, and develop technical expertise.
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