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egyptian prime minister visits china to extend olive branch, great wall, faw focuses on african new energy vehicle market

2024-09-16

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our reporter chen maoli reports from beijing

"if alpine is sold in egypt, it will sell very well. it is beyond imagination and will be very competitive. i hope that the new blue mountain and alpine can be produced in egypt."

recently, the china-africa cooperation forum summit (hereinafter referred to as the "summit") was held in beijing. egyptian prime minister mustafa madbouly extended an olive branch to wei jianjun, chairman of great wall motors, hoping that wei's new blue mountain and alpine models could be produced in egypt. during the summit, wei jianjun, as a representative of the automotive industry, had an in-depth and friendly exchange with madbouly on the latest achievements, progress and planning of investment and layout projects in egypt.

china-africa cooperation has broad prospects, especially new energy technology is becoming a new highlight of china-africa cooperation. in 2023, china-africa trade volume reached us$282.1 billion, breaking the historical peak for the second consecutive year. among them, china's exports of new energy vehicles, lithium batteries, and photovoltaic products to africa increased significantly by 291%, 109%, and 57% year-on-year.

a reporter from china business news noted that in addition to great wall motors, in june this year, egypt's gv investment company reached a cooperation agreement with china's faw group, planning to produce affordable electric vehicles in the middle east.

according to xinhua news agency, sherif hamouda, chairman of gv investments, said that according to the agreement between the two parties, its subsidiary will start producing affordable electric vehicles for china faw in egypt in the first quarter of 2025, which are expected to be mainly used for online car-hailing services. gv investments aims to localize 65% of vehicle parts in the next 3 to 5 years and export products to the middle east, africa, europe and latin america.

"in order to actively respond to egypt's automobile industry policy, great wall motors has worked closely with local dealers to gradually shift from exporting complete vehicles to exporting technology," great wall motors told reporters.

as the second largest automobile market in africa, egypt has great potential, with annual sales of about 300,000 new cars at its peak. currently, egypt is working hard to promote the development of the electric vehicle industry, implementing a "zero tariff" policy on electric vehicle imports, and enhancing the country's potential as an electric vehicle manufacturing and export center.

according to the electric vehicle development plan launched by the egyptian government in 2018, the goal is for electric vehicles to account for 2% of the total number of vehicles by 2025 and 10% of the total number of vehicles by 2030. as early as 2022, egypt launched a national strategy for the localization of the automotive industry and established the supreme committee of the automotive industry to promote the localization of automobile production, especially electric vehicles.

it is worth mentioning that the sales of chinese new energy vehicles in egypt have increased significantly since 2024. according to official egyptian data, in the first quarter, the number of new energy vehicles registered in egypt exceeded 1,419, close to the annual sales in previous years, and most of them were produced in china.

currently, the egyptian government has begun to implement a plan for large-scale production of electric vehicles, striving to achieve nearly 100% local procurement of components in the future. the egyptian government has introduced measures to invest approximately us$1.5 billion to expand its electric vehicle manufacturing plants and charging stations.

the reporter learned from great wall motors that in october this year, great wall motors' new energy model haval h6 will be launched in egypt. wei jianjun said: "the egyptian government is accelerating the transformation of new energy, which is crucial to the society and the automobile investment environment. great wall motors and egypt have the same goal. great wall motors will provide egyptian users with a brand-new product and service experience based on local market demand and the government's vision of transforming to new energy."

great wall motors entered the egyptian market in 2008 and has been deeply involved in the market for 16 years. great wall pickup, haval h6 and haval jolion have won high praise from egyptian users for their comfort, safety, intelligence, control and fuel efficiency. among them, haval h6 and haval jolion have entered the top 10 sales in each market segment. currently, great wall motors has 25 stores in egypt. with the development of vehicle business and ckd business in egypt, great wall motors will expand more sales channels in egypt in the future.

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