Egyptian-Emirati Collaboration Bolsters Electric Car Industry Localization
Star Invest Holding Company for Financial Investments has partnered with Emirates Transport Company Limited – Abu Dhabi, a key player in car manufacturing and distribution, to advance the electric car industry. This agreement aims to facilitate knowledge exchange and technological advancements, driving economic growth.
The partnership entails exploring opportunities for mutual share acquisition to enhance electric car manufacturing technology and streamline the supply chain.
This strategic move aims to bolster the national industry in Egypt and Abu Dhabi, fostering the transition towards sustainable electric car production and environmental conservation.
Yasser Saleh, a board member of Star Invest Holding Company, emphasized that this collaboration aligns with their strategy to actively contribute to the national agenda of electric car industry localization and environmental sustainability.
By becoming a hub for comprehensive electric transportation solutions in the Middle East and Africa, the company aims to play a pivotal role in advancing clean energy initiatives.
Saleh highlighted the Egyptian government’s commitment to fostering the electric car industry through supportive policies, attracting increased investment to the region.
Moreover, aligning with global trends towards green energy, the government aims to reduce reliance on traditional fuels and mitigate harmful emissions.
With over 35 years of experience in the automotive sector, Star Invest Holding Company is positioned as a leader in Egypt. It owns several subsidiary companies, including the National Automobile Company (NATCO), which is renowned for distributing Mercedes-Benz cars. The partnership with Emirates Transport Company Limited – Abu Dhabi underscores a shared commitment to driving innovation and sustainability in the automotive industry.
