Business Hub – Cairo:
The Extraordinary General Assembly of Al-Nasr Automotive Manufacturing Company, a subsidiary of the Holding Company for Metallurgical Industries, approved One of the companies of the Ministry of Public Business Sector, The decision to merge the Engineering Company for the Automotive Industry into the Nasr Automotive Industry Company.
This decision comes within the framework of the Ministry of Public Business Sector’s plan to localize the electric vehicle industry of various sizes in light of the global trend towards the transition to a green economy. And the formation of a strong entity in this industry and the achievement of integration between the two companies, especially as they operate in a similar activity, And adjacent to the work site in Wadi Hof in Helwan.
The new entity’s projects include the production of various electric vehicles, including the “sedan”, microbus, and an alternative to the tuk-tuk. As well as the project to develop batteries and control systems, In cooperation with international and local companies.
It is noteworthy that Al-Nasr and Engineering for the Automotive Industry were previously one company before they were separated into two companies more than 20 years ago. The Ministry of Public Business Sector also brought back Al Nasr Automotive Company from liquidation to revive it again and keep pace with the global development in the automotive industry.