The cars will be manufactured at the state-owned El-Nasr Automotive Manufacturing under a memorandum of understanding (MoU) inked with the Chinese Dongfeng Motor Industry Import & Export Co. (DFMIEC), Tawfik told MBC Misr TV channel late on Saturday night.
The minister said local components will be used by 58 percent in manufacturing the new electric-powered cars.
He noted that a protocol has been signed with an Egyptian company to manufacture the battery, whose cost alone is estimated at 30 percent of the car's total price. Only the motor, whose cost is 13 percent of the car's price, will be imported.
The minister said that financial support of EGP 50,000 would be provided for the buyer of such cars, with no replacement of the old fuel-run car.
The electric car would be offered in three types: the first will have the smallest battery and can go 250 km per charge, the second type can run 400 km, and the third one has the capability to cover a 508 km trip, Tawfik said.
The minister noted that the Chinese company has entered into a partnership with Nissan Corporation to provide better cars for the Egyptian market.
Egypt's first locally assembled electric car by El-Nasr company, which is owned by the Metallurgical Industries Holding Company, comes as part of President Abdel Fattah El-Sisi's directives to localise the manufacture of green cars.
Egypt has currently 75 charging stations and plans to increase them to 3,000 during the next year, at a cost of at EGP 450 million.
Egypt has been recently supporting the environment-friendly cars and in January it launched the three-year Go Green initiative – which is now open for taxi and private-car owners in seven governorates – with a target of replacing 70,000 rickety old private cars with hybrid ones in the first year and 90,000 in each of the second and third years.
More than 1.3 million cars older than 20 years old are still running in Egypt, according to the country's trade and industry ministry.