Dr. Mohamed Farid Saleh, Egypt's Minister of Investment and Foreign Trade, witnessed the signing ceremony of a memorandum of understanding between the «Mansour» Group and China's «Tianneng Battery Group Co., Ltd», to explore cooperation and investment opportunities in manufacturing batteries and energy storage solutions in Egypt. The initial study includes producing lead-acid batteries used in conventional cars, alongside lithium batteries relied upon by electric vehicles, in a step reflecting major players' interest in establishing a regional industrial base in North Africa.
This move represents a qualitative shift in the role of the «Mansour» Group, which operates in the automotive sector in the Kingdom and other countries, as it is a long-term partner of major global brands and has a wide distribution network. For the Gulf landscape, particularly the Saudi market, manufacturing batteries in Egypt carries significant implications, as it is expected to contribute to expanding regional supply chains and reducing logistics costs for automakers that will move toward local assembly in the region. This project may also intensify competition for current battery suppliers in Saudi Arabia, most of whom import from Asia and Europe, and opens the door to alternative options for the
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