{"id":324905,"date":"2022-03-17T10:30:30","date_gmt":"2022-03-17T10:30:30","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324905"},"modified":"2022-03-17T10:30:30","modified_gmt":"2022-03-17T10:30:30","slug":"el-nasr-automotive-natco-to-establish-egypts-1st-electric-vehicle-distributor","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/03\/17\/el-nasr-automotive-natco-to-establish-egypts-1st-electric-vehicle-distributor\/","title":{"rendered":"El Nasr Automotive, NATCO to establish Egypt&#8217;s 1st electric vehicle distributor"},"content":{"rendered":"<p>El Nasr Automotive Manufacturing Co has signed an agreement with the National Automotive Company (NATCO) to establish the first electric vehicle distributor in Egypt with an issued capital of EGP 500 million.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>The signing ceremony was attended by the Egyptian\u00a0Minister of Public Business Sector,\u00a0Hisham Tawfik, according to a statement on Wednesday.<\/p>\n<p>NATCO will own a 76% stake in the new company, while\u00a0El Nasr Automotive will hold a 24% stake.<\/p>\n<p>The new company will be the only distributor of locally-manufactured\u00a0electric vehicles, which will be produced\u00a0by\u00a0El Nasr Automotive in 2023, alongside the imports from international companies.<\/p>\n<p>The\u00a0electric vehicle distributor\u00a0will also provide\u00a0after-sales, maintenance, and warranty services as well as financing and insurance solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>El Nasr Automotive Manufacturing Co has signed an agreement with the National Automotive Company (NATCO) to establish the first electric vehicle distributor in Egypt with an issued capital of EGP 500 million.<\/p>\n","protected":false},"author":4,"featured_media":322158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[],"class_list":["post-324905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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