Egypt Daily News – Engineer Khaled Saad, Secretary General of the Automobile Association, emphasized Egypt’s commitment to localizing the automotive industry and increasing the use of local components during a television interview earlier today.
He outlined the significant financial impact of car imports, citing that Egypt imports vehicles worth approximately $8 billion annually, as noted by the Prime Minister. Saad underscored the necessity to reduce this import bill through local manufacturing.
He emphasized that the Egyptian market requires cars outfitted with specific accessories to meet consumer needs while maintaining affordability and quality.
Saad pointed out that Egypt has the capability to manufacture cars fully, highlighting the successful production of electric vehicles, where the battery alone constitutes 60% of the total vehicle cost. He noted that no country can claim to produce a car entirely within its borders.
Saad also mentioned the existence of 19 factories in Egypt, operated by both local and foreign companies, that produce various types of vehicles, including regular and electric cars.
He explained that electric cars have fewer components compared to traditional fuel or gas-powered vehicles and asserted that Egypt’s manufacturing capabilities are on par with international standards.
