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PM Reviews Local Car Plan
Prime Minister Mostafa Madbouly reviewed a plan to localize the automotive industry and its components, focusing on producing car parts, batteries, and electric motors locally, while developing supporting industries and charging stations as part of a shift toward green growth and reduced imports. The plan includes manufacturing seven metal components, with a combined output of eight million pieces annually, and producing three electric vehicle models starting in 2027. It also aims to raise local content from 10% to 27% by 2032. The meeting also discussed incentives and facilitation measures under consideration as part of the National Automotive Industry Development Program to encourage local manufacturing.
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