Everything you need to know about the joint Arab electric vehicle

The Integrated Industrial Partnership between the 4 countries held meetings in Cairo last week, between 19 and 21 March, and discussed the production of the electric car.

The idea came from discussions that took place at COP27 in Cairo and preparations for COP28 in UAE about limiting carbon emissions. Here are the top 10 things you need to know about this project.

1. Egypt plans to produce its first electric vehicle in 2023 as part of its government strategy to transition towards a green economy.
2. The Arab Organisation for Industrialisation (AOI) of Egypt is pushing for the joint Arab electric car to be completed and showcased in COP28 (the 28th UN Climate Change Conference) which will take place in the UAE in November of this year.
3. M Glory Holding, a UAE-based car manufacturer announced that it will establish 3 factories for electric cars in Egypt, Jordan, and the UAE, with a budget of $550 million.
4. During the meeting in Cairo, the countries' representatives discussed using local technological capabilities and local materials from the 4 countries in the manufacturing of electric cars.
5. The Arab Academy for Science, Technology & Maritime Transport (AASTMT) is working on Egypt's local electric car that is expected within six months and is anticipated to hit the market at an affordable price for the Egyptian public.
6. The government in Egypt is looking at creating a fully local production line for electric vehicles, including producing charging stations locally.
7. Egypt is planning to establish a Supreme Council for Manufacturing Vehicles along with setting up a fund for financing environment-friendly vehicles. The draft law for the supreme council was approved by the Senate.
8. All of Egypt's steps are part of a national strategy for supporting and developing the automotive industry in the country, in line with the latest technological advances and environmental practices, as per Egypt's commitments during COP27.
9. Egypt has a vehicle manufacturer called "Arab American Vehicles", whose production lines were inspected by the committee of the Integrated Industrial Partnership and was praised for its standards and abilities.
10. The 4 countries have signed multi-billion dollar deals amongst them in different sectors to boost investments and opportunities for growth and partnership between them.