Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, witnessed the signing of an agreement between the Chinese BAIC Company and Alkan Auto Company, one of the companies of the Egyptian International Automotive Group, to establish a factory to produce electric cars in Egypt.

The factory will begin production at the end of 2025 and will be built on an area of ​​120,000 square meters to meet the needs of the local market and export to the Middle East and African markets.

The project is scheduled to produce 20,000 cars in the first year so that the production volume will reach 50,000 cars by the end of the fifth year.

 The local component of the project is 48% and is targeted to increase to 58%. The project will provide about 1,200 new job opportunities. 

The minister highlighted that this signing supports President Abdel Fattah El-Sisi's vision to position Egypt as a regional industrial hub and to localize the automotive sector.

 He welcomed the collaboration between the two companies and confirmed the ministry’s commitment to swiftly bringing the project into production, with the General Authority for Industrial Development providing the necessary land and fast-tracking licensing.

He also emphasized the Ministry of Industry's dedication to enhancing local manufacturing, attracting global automotive investments, and supporting companies to expand in Egypt to boost exports, especially to the Middle East and Africa, and create new job opportunities.