$50bn SDG-targeted investment proposals at SDG Investment Fair
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Egypt, UAE, Jordan, Bahrain mull joint production of EV to be used at COP28
Egypt, the UAE, Jordan and Bahrain are mulling joint production of electric vehicle (EV) to make up for the need of eco-friendly cars to be used at the 28th United Nations Climate Change Conference (COP28), due to be hosted by the UAE.
This came during meetings of the higher committee for integrated industrial partnership which were held under directives of the political leadership of the four countries.
The meetings are meant to promote partnerships and realize the optimal use of available potentials in order to achieve industrial integration.
Chairman of the Arab Organization for Industrialization (AOI) Mokhtar Abdel Latif highlighted directives of President Abdel Fattah El Sisi on promoting cooperation with Arab countries and capitalizing in on their national industrial potentials in order to localize technology and enhance local industry.
He expounded that this contributes to reducing importation and implementing the strategic plan for industrial development in Arab countries.
The meetings tackled means of localizing the technology of manufacturing electric car in the four Arab countries depending on their local components.
He stressed the importance of finalizing executive measures for joint production of e-car ahead the COP28.
He accentuated that the AOI is looking forward to bolstering cooperation and industrial integration with Arab countries, noting that the AOI is the locomotive of Egypt’s industry and contributes to realizing industrial development in various domains in accordance with Egypt Vision 2030 for sustainable development.
Within the framework of the discussions, the committee members had talks with Board Chairman of the AOI-affiliate Arab American Automotive Company (AAV) Osama Abdel Aleem on means of jointly producing electric vehicle in light of available resources and potentials.
The talks reviewed financing resources, project management, timeline, manufacturing stages in each of the member states as well as the steps to be taken by the company in each manufacturing stage.
Being keen to inspect the production lines of the AAV, the committee lauded the development of the production lines and the technological capabilities of the company, which resemble those of major international car manufacturers.
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