Egypt's Nasr Automotive, German "FEV" sign consultancy contract

CAIRO - 5 April 2022: Minister of Public Business Sector, Hesham Tawfik, witnessed the signing of a consultancy contract between Nasr Automotive Company, a subsidiary of the Holding Company for Metallurgical Industries, and the German FEV company specialized in the field of development consultancy in the automotive sector.

 

The scope of cooperation with the German company FEV includes following up the management of the electric car production project with Nasr Automotive Company, as well as developing the electric model, which is scheduled to start production during 2023, according to a statement by the ministry.

 

This signing comes within the framework of the cooperation that began in November 2021 with the German consultant "FEV" by nominating a number of global manufacturers of electric cars that comply with the standards set by Nasr Automotive Company, according to studies, in order to choose one of them to participate in the production of electric passenger cars.

 

One of the companies nominated for the partnership with Nasr Company was chosen in February 2022. It is scheduled to sign a memorandum of understanding between the two sides before the end of this month, with the contracts to be signed before mid-2022.