Trade Minister Probes EV Investment Opportunities With India's Auto Giants

Minister of Trade and Industry Ahmed Samir reviewed investment opportunities in the national auto industry during separate meetings with delegations from India's Hinduja and Motherson groups.

The first company is a multinational conglomerate operating in the field of electric vehicles especially the passenger vehicles; while the former is one of the world’s largest manufacturers of components for the automotive industry.

During his meeting with Hinduja representatives, Samir gave an outline of the State's efforts to entrench the national electric vehicle (EV) industry, and embrace clean energy to protect the environment, highlighting the efforts under way to provide the infrastructure needed for building EV charging stations.

As for joint EV manufacturing, the minister said Hinduja representatives had already met with some government officials to explore prospects for cooperation with Egypt' El Nasr Automotive Manufacturing Company to pursue joint projects at East Port Said Industrial Zone.

On that score, Samir highlighted the advantages offered by the free trade agreements Egypt has signed with many countries, as well as regional and international economic blocs, especially the African Continental Free Trade Area (AfCFTA), one of the 13 flagship projects of Agenda 2063, which offers a large promising market for investors in Egypt.

Meanwhile, Amandeep Singh, Hinduja's international operation officer, revealed the group's plan to establish a factory in Egypt to serve as a manufacturing and export hub in the Middle East and Africa.

During his meeting with Motherson's delegation, the minister also highlighted the country's EV production potential and capabilities, asserting his ministry's commitment to providing all support to local as well as foreign investors in the electric vehicle industry.

For his part, Motherson's chief operation officer said the group is looking forward to doing business in Egypt, a prominent business destination in the region and an export gateway for a myriad of global markets.

Motherson is one of the world’s largest manufacturers of interior and exterior components from simple plastic parts and mechanical assemblies to highly integrated modules for all types of vehicles from small cars to luxury cars, commercial vehicles and large trucks.

With its broad multi-market expertise as one of the leading suppliers in Germany, Spain, France, India and many other automotive regions in North America, South America, Europe and Asia, Motherson is able to offer competitive full system solutions catered to virtually all customer requirements.

Earlier this month, Minister of Public Business Sector Mahmoud Esmat had a meeting with a delegation of India's Ashok Leyland Company, affiliated to Hinduja Group operating in the field of electric vehicles especially the passenger vehicles.

Talks covered means of beefing up cooperation between the two sides in the manufacturing of electric buses.