MCV, VOLVO to produce electric buses in Egypt

CAIRO – 6 September 2023: Manufacturing Commercial Vehicles Company (MCV) has a new cooperation with Swedish multinational manufacturer VOLVO. MCV signed an agreement with VOLVO to produce electrical busses, in addition to that 50 percent of the e-buses’ components will be locally produced in Egypt.

The electrical busses will also be exported to European markets and therefore boost investments in Egypt.

The agreement was witnessed by Egypt’s Minister of trade and industry, Ahmed Samir and Sweden’s Minister for International Development Cooperation, Johan Forssell.

According to Samir, the agreement’s goal is to enhance cooperation between Egypt and Sweden. Under the agreement, the volume of the localization of the Egyptian transportation industry will raise, including the environmentally friendly electric bus industry.

Samir added that the signing of the agreement came as a result of meetings were held with a number of Swedish companies during the ministry delegation’s visit to the Swedish capital Stockholm.

During the participation of the delegation in the Egyptian-Swedish business forum, Swedish companies were encouraged to pump investments in the Egyptian market.