Egypt's First Electric Automaker Signs Development Agreement with FEV.
German Engineering Firm FEV has signed a development agreement with NASCO - El Nasr Automotive Manufacturing Company at Egypt's Ministry of Public Business Sector. As a result, FEV and the Egyptian automobile manufacturer NASCO based in Helwan near Cairo will develop the country's first electric vehicle by 2023.
"We are pleased about the partnership with NASCO and the trust placed in us. We see great potential in North Africa for developing sustainable e-vehicles and are striving to expand local expertise in this area," said Prof. Stefan Pischinger, CEO of FEV Group.
FEV will be supporting as a service, supplier negotiations, establishing a local supplier network, and vehicle development for the sedan with a purely battery-electric drive system.
This is the second major announcement for FEV in Africa. Last year FEV and its joint venture partner UTAC announced the construction of Africa's first automotive development and test centre in Oued Zem, Morocco. The test centre is set to open later this year 2022.
In line with the associated claim of developing sustainable and safe mobility for the African continent, the world climate conference COP27 will be held in Egypt in November. Among other things, it defines the emission limit values to be achieved by 2045. Electromobility makes an essential contribution to achieving the 1.5 °C target.