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المصري اليوم
PM Attends Battery Factory Signing
The article focused on signing a contract to establish an Egyptian factory for the production of all types of electric batteries, with the aim of meeting both local and global market needs and enhancing Egypt's automotive and clean energy industries. The factory involves an initial investment exceeding 2 billion Egyptian pounds, starting with an annual production capacity of 1 gigawatt-hour in the first phase, and expanding to 5 gigawatt-hours in the second phase. The project aims to manufacture batteries for heavy commercial vehicles, with plans later to produce batteries for passenger cars, solar and wind energy storage. The targeted local content ratio is 40%. The project seeks to reduce dependency on imports, create job opportunities, transfer technology, and support Egypt's regional and international position in the battery industry, thereby promoting the shift toward electric vehicles and keeping up with global advancements in clean energy manufacturing.
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