Cairo – Mubasher: Egypt’s Military Factory 200, an affiliate to the military production ministry, and China’s Foton Motor on Saturday signed an agreement for the manufacturing of electric vehicles (EVs) in Egypt.
The agreement will see the manufacturing of 2,000 buses in Military Factory 200 within four years, with Egypt contributing 45% of the vehicles’ components.
The deal was signed on the sidelines of the Belt and Road Forum held in Beijing coinciding with an official visit from Egyptian president Abdul Fattah el-Sisi to China.
The Belt and Road initiative aims at linking China with South-East, South, and Central Asia; the Arabian Gulf; North Africa; and Europe.
