The complex will produce EVs, batteries, and water purification and desalination membranes across three production phases, over an area of 70,000 square metres.
It is expected to create around 1,000 job opportunities. A timeline for the project hasn’t been disclosed.
Guide Automotive Technology is a subsidiary of Guide Group, which was founded in 2009. The group focuses on ion sodium-ion battery technology and its industrial uses, operating in over 120 countries.
The project’s first phase will have an investment ticket of up to $13.6 million (EGP 636.9 million), producing two, three, and four-wheeled EVs. While the second phase will handle the manufacturing of lithium-ion car batteries for domestically and internationally produced EVs.
The third phase will produce reverse osmosis membranes or filters for water purification and desalination for environmental sustainability.
The complex aims to improve Egypt’s industrial localization of battery and EV technology, reduce the import bill, and support green economy transition and sustainable industries, as per the economic development narrative.
The narrative addresses industrial development, local and foreign investments, foreign trade, green transition, the non-banking financial sector, and labour market efficiency.
Egypt has been developing its electric-mobility ecosystem, addressing challenges of EV adoption such as availability of charging stations and local production, as a way to promote industrial development.
This is to obtain the annual foreign direct investment (FDI) target of $24.6 billion and total exports of $145 billion by 2030, a 7.5 percent growth, as well as increasing non-oil exports by 15–20 percent annually.
The country has also been working on attracting investments in clean energy and water desalination to diversify energy sources and improve sustainability under its National Climate Strategy 2050. In this respect, the state plans to produce 10 million cubic metres of desalinated water per day within the next five to six years and to achieve 42 percent renewable energy in its total energy mix by 2030.
Egypt’s water demand currently stands at 88.55 billion cubic metres (bcm) per year, significantly exceeding the country’s renewable water resources needed for agriculture, drinking, industrial, and other uses.
The country’s renewable water resources are estimated at 65.35 bcm per year, indicating water scarcity. To compensate for the gap, 23.2 bcm of water are reused annually.
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