Electric Vehicle Battery Manufacturing Goes Local in Egypt — Strategic Steps to Deepen Industrialization

In a fresh move to deepen local manufacturing and build an advanced technology industry, Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, held a meeting with the founders of the Egyptian company 'Everaid', which specializes in localizing electric vehicle technology. The meeting discussed the company's plans to manufacture electric drive systems and batteries within Egypt, as well as supporting its expansion in production and export.

Local Manufacturing Plans and Export Expansion

The Minister of Investment and Foreign Trade affirmed during the meeting that the ministry places supporting startups and entrepreneurs at the top of its priorities, noting that advanced economies are built on innovation. He emphasized that localizing electric vehicle technology represents one of the main axes of the state's vision to enhance economic competitiveness and deepen local industry, adding that the ministry's doors are open to young people with innovative ideas.

Everaid's Roadmap for Electric Drive Systems

The delegation of 'Everaid', headed by Engineer Sherif Diab, CEO and Managing Director, and including Ahmed El-Shazly, Chief Technology Officer, and Gamal Tamraz, Business Development Manager, reviewed the company's plan to localize electric drive system technology, battery management systems, and low-voltage electric vehicle battery packs. The meeting also focused on enhancing the proportion of local content and cooperation with electric vehicle manufacturers operating in the Egyptian market.

Software Development and Boosting Tech Exports

The meeting also covered the company's efforts in developing specialized software and engineering solutions for the electric vehicle sector, and its success in exporting technology and software services to a number of global companies. Discussions also touched on plans to expand the production and assembly of batteries and control systems inside Egypt, supporting the transition towards a technology- and knowledge-based economy.

The Minister of Investment pointed out that the ministry is working to provide a more attractive investment environment, through incentives and guarantees supporting industrial and technological investments. The focus is on helping innovative companies, especially those led by young people, to expand into foreign markets and increase exports. He stated that Egyptian companies have the potential to become a source of technology, not just consumers of it.

Economic Impact of Deepening EV Component Manufacturing

The minister explained that deepening the manufacturing of key components for electric vehicles contributes to building a more advanced industrial base, reducing the import bill, creating quality job opportunities, and transferring technology to the Egyptian market. This also helps develop feeder industries and local supply chains, and encourages companies to build intellectual property and export to regional and global markets.