The state-owned Egyptian Automotive Manufacturing Company (EAMCO) signed an agreement with the local agent for China’s Dongfeng Motor Co, Drshl Industries, that will see them cooperate on the assembly of electric cars, Al Masry Al Youm reports. The project, which will rely on Chinese manufacturing technology, is expected to produce 200 vehicles a year as a first stage and gradually increase output to 10,000 electric cars and 4,000 chargers by the fifth year. The assembly line is expected to source at least 70% of its raw materials locally also by the fifth year. Operations are expected to start in August using some of EAMCO’s existing production lines. The value of the agreement was not disclosed. We had reported back in November last year that a Chinese manufacturer was interested in investing USD 30 mn in producing electric cars in Egypt and had intended to source at least 40% of raw materials locally to benefit from incentives offered under the new Investment Act.