https://en.sputniknews.africa/20241118/egypts-state-owned-car-company-resumes-production-after-15-year-pause-information-service-says-1069284020.html
Egypt's State-Owned Car Company Resumes Production After 15-Year Pause, Information Service Says
Egypt's State-Owned Car Company Resumes Production After 15-Year Pause, Information Service Says
Sputnik Africa
Founded in 1960, El Nasr Automotive Manufacturing Company was briefly liquidated in 2009, and preparations for its revival began in 2017, Egypt's State... 18.11.2024, Sputnik Africa
2024-11-18T13:30+0100
2024-11-18T13:30+0100
2024-11-18T13:30+0100
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Egypt's state-owned El Nasr Automotive Manufacturing Company resumed production after a 15-year hiatus, the State Information Service of Egypt reported on Saturday.The company will start with the delivery of Nasr Sky luxury buses to the Egyptian Ministry of Transport, and further plans to expand production to include light transport vehicles, golf carts, and electric vehicles, with a target of producing 1,500 buses by 2027, using up to 100% local components, according to the service.
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egypt, north africa, cars, production, industry, bus, company, transportation, economy
egypt, north africa, cars, production, industry, bus, company, transportation, economy
Egypt's State-Owned Car Company Resumes Production After 15-Year Pause, Information Service Says
Alla Shukanova
Writer / Editor
Founded in 1960, El Nasr Automotive Manufacturing Company was briefly liquidated in 2009, and preparations for its revival began in 2017, Egypt's State Information Service said.
Egypt's state-owned El Nasr Automotive Manufacturing Company resumed production after a 15-year hiatus, the State Information Service of Egypt reported on Saturday.
"Prime Minister Mostafa Madbouly attended on Saturday a celebration held to announce the restoration, development and modernization of production lines of El Nasr Automotive Manufacturing Company," the report said.
The company will start with the delivery of Nasr Sky luxury buses to the Egyptian Ministry of Transport, and further plans to expand production to include light transport vehicles, golf carts, and electric vehicles, with a target of producing 1,500 buses by 2027, using up to
100% local components, according to the service.
"The step comes as part of the state's action plans to support national industry and localize the technology of automotive industry, maximize the local component percentage in products, abide by quality criteria and devise marketing plans," the service noted.
