Investment Minister Discusses EVRAID Plans to Localize Electric Vehicle Technology and Increase Local Content in Egypt

Dr. Mohamed Farid, Minister of Investment and Foreign Trade, held a meeting with officials from EVRAID, a company specializing in electric vehicle technology, to discuss plans for localizing electric powertrain technology and battery management systems in Egypt. The meeting reflects the country's broader strategy to deepen industrial localization within the electric vehicle sector while increasing the percentage of locally manufactured components. Discussions focused on strengthening domestic manufacturing capabilities and supporting advanced automotive technologies that contribute to the future development of the industry.

Expansion Plans for Electric Powertrains and Battery Systems

During the meeting, EVRAID presented its plans to expand the production and assembly of electric powertrain systems, battery packs, and battery management systems in Egypt. The discussions also covered potential cooperation opportunities with electric vehicle manufacturers operating in the Egyptian market. These initiatives are intended to strengthen local supply chains, support specialized manufacturing, and enhance the country's capabilities in advanced automotive production without altering the company's stated objectives.

EVRAID also reviewed its ongoing efforts to develop software and engineering solutions for electric vehicles, highlighting its success in exporting advanced technologies to several major global automotive companies. In addition, the company revealed plans to expand its research and development activities while increasing the production of batteries and control systems within Egypt, supporting domestic industry and creating additional opportunities for technology exports to international markets.

Innovation and Local Manufacturing Remain Key Priorities

The Minister of Investment and Foreign Trade emphasized that the ministry places significant importance on supporting startups and entrepreneurs, describing innovative ideas as a fundamental pillar for building a more competitive economy. He added that the ministry continues to create an attractive investment environment while providing the necessary incentives for industrial and technology companies to grow and expand both within the Egyptian market and internationally, further supporting the development of the electric vehicle industry.

The minister also stated that localizing industries related to electric vehicles, particularly advanced technological components, represents one of the state's key policy priorities. He explained that this approach will contribute to increasing local content, reducing import costs, creating new employment opportunities, supporting Egyptian exports, and strengthening the competitiveness of the national automotive industry as Egypt continues to develop its electric vehicle manufacturing ecosystem.