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Eight Facts on New Battery Plant
The news reports on the establishment of a new factory in Egypt for manufacturing electric batteries, signed by Prime Minister Dr. Mostafa Madbouly in collaboration with the Ministry of Industry. The factory aims to produce batteries for heavy commercial vehicles, with plans to expand later to include batteries for passenger cars. The initial phase has a production capacity of 1 gigawatt-hour per year, with investments exceeding 2 billion Egyptian pounds. There is a plan to increase production to 5 gigawatt-hours in the second phase. The target is to achieve a local content percentage of 40%, with the factory seeking to meet both local and global market needs.
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