Egypt’s MCV, Swedish Volvo pen agreement to manufacture e-buses

Updated 9/5/2023 1:38:00 PM
Egypt’s MCV, Swedish Volvo pen agreement to manufacture e-buses

Arab Finance: Egyptian vehicles manufacturer MCV signed an agreement with the Swedish multinational manufacturer of luxury vehicles Volvo to manufacture electric buses with a local component of 50%, Egypt’s Ministry of Trade and Industry stated on September 5th.

These e-buses will be exported to the European market.

Minister of Trade and Industry Ahmed Samir said that this cooperation contributes to the localization of the transport industry, including manufacturing environmentally friendly buses.

Samir also expressed his country’s keenness to boost investment and industrial cooperation with Sweden in the near future.

For his part, Swedish Minister of International Cooperation and Foreign Trade Johan Forssell said that this cooperation will be a gateway to increase Swedish investments in the Egyptian market.

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