The Chairman of the Board of Directors of the Holding Company for Metallurgical Industries, Eng. Mohamed Saadawi, confirmed that investments were allocated to modernize production lines and introduce advanced technology in the assembly and manufacturing processes, with a focus on producing the first Egyptian electric car bearing the “Al-Nasr” brand.

Saadawi explained that investments were allocated to modernize production lines and introduce advanced technology in the assembly and manufacturing processes, with a focus on producing the first Egyptian electric car bearing the “Al-Nasr” brand.

He pointed out that the company has come a long way in this project, as it succeeded in achieving a percentage of up to 60% of the local component in the car, in cooperation with international companies such as the Chinese “Dong Feng”, with which Egypt signed a partnership agreement in 2022 to transfer expertise and enhance local manufacturing.

Saadawi stressed that the project aims to promote the local electric car industry and reduce dependence on fossil fuels by 15% by 2030, in line with Egypt’s 2030 vision for sustainable development.

Al-Nasr Automotive Company was established in 1960 by a decision of the late Egyptian President Gamal Abdel Nasser as part of the “From Needle to Rocket” project to be the pillar of the national industry. It succeeded in producing models such as the Fiat 128 and Nasr Shaheen, but it faced financial challenges that led to its cessation in the 1990s and a decision to liquidate it in 2009.

In November 2024, Prime Minister Mostafa Madbouly announced the official restart of the company with a focus on electric cars as part of Egypt’s strategy to transition toward clean energy.

Source: RT