Egypt's Prime Minister Mostafa Madbouly attended, on Saturday, the relaunch ceremony of El Nasr Automotive Manufacturing Company (NASR), affiliated to the Ministry of Public Enterprises Sector, after a 15-year hiatus. He also inspected the company's ongoing development efforts. Managing Director of NASR, Khaled Shadid, outlined the company's vision to fully utilize its factories, invest in feeder industries, and diversify its product range with light vehicles, golf carts, and electric tuk-tuks. The company also plans to optimize its customs facilities to enhance logistical operations. Minister of Public Enterprises Sector, Mohamed Shimi, hailed the day as a new chapter for NASR, noting that restarting production after years of suspension reflects the state's resolve to advance the automotive sector and achieve sustainable development goals aligned with Egypt's Vision 2030. Shimi stated that the local production of electric buses with a high local component marks the beginning of revitalizing the company, which is a cornerstone of Egypt's industry and public business sector. This step contributes to achieving the company's ambitions to enter the automotive industry, adhering to global quality standards. He also highlighted that the revival of NASR aims to implement modern technology, meet environmental requirements, and enhance after-sales services, ensuring the application of sustainability and advancement standards in the automotive manufacturing sector. During the ceremony, the Prime Minister witnessed the signing of a joint-stock company agreement between NASR, Singaporean-Taiwanese Tron Technology, and UAE-based Your Transit. The company will manufacture the first electric minibus (24 passengers) for urban and tourism sectors, with an initial production capacity of 300 buses by 2026. Additionally, the project includes establishing a production line for electric batteries with a capacity of 600 batteries by 2026. Production is set to commence mid-next year, with plans to double these numbers by 2027. It was noted that this partnership aims to enhance private sector collaboration and attract more foreign investments. Following the ceremony, the Prime Minister toured the bus factory to inspect ongoing developments, observing various production stages leading to the final product. The current production capacity of the factory stands at 300 buses annually, with a target to reach 1,500 buses annually by 2027. The local content ratio will increase from 50% in the first phase to 60-70% later. It was also highlighted that buses are being exported to several Arab countries.
Prime Minister Madbouly witnessed the delivery of the first batch of Nasr Sky tourist buses to the Ministry of Transport. These advanced buses, with a capacity of 49 passengers and 12 meters long, are designed for comfort and safety. The Prime Minister was briefed on Egypt Tourism Company's current programs aimed at attracting more tourists to historical destinations. He also inspected the development project at the passenger car factory, which is progressing rapidly. The construction is expected to finish next month, with production lines set to reach a capacity of 20,000 cars annually by mid-2025. The factory will begin with a local component rate exceeding 45%. Established in 1959, El Nasr Automotive Manufacturing Company, Egypt's first car manufacturer, is undergoing a major revival after being reactivated in 2017. The company is preparing for a new phase of advanced production aligned with Egypt's industrial vision and sustainable development goals. Madbouly emphasized that the current capabilities of El Nasr Automotive Manufacturing Company allow it to establish a complete manufacturing industry in this geographical location without the need for additional factories elsewhere. He explained that this step aligns with the state's efforts to expand the automotive industry, as Egypt sees a significant opportunity for growth in this sector in the coming years. He pointed out that, as mentioned by the company's CEO, the company was once slated for liquidation in 2009. At that time, some African countries were taking their first steps in the automotive industry, and today, despite the short time that has passed, they are producing over half a million cars annually, with future plans to reach one million cars per year. He highlighted Egypt's potential to meet local demand for nearly half a million cars annually, which will grow by 2030. Discussions were held to increase local content in the buses launched today from 50% to 70%, and to develop a comprehensive system for feeder industries, including bodywork and engines. Additionally, he stressed the importance of establishing a battery manufacturing plant for electric vehicles. He concluded that Egypt has the necessary resources to exceed these targets, and it is essential to build an integrated system for feeder industries, including those for bus manufacturing, such as bodywork, panels, sheet metal, upholstery, glass, and engines. Additionally, he highlighted the need to establish a battery manufacturing plant for electric vehicles, ensuring the country is prepared for the electric car market.
