NATCO group CEO Yasser Saleh said: “Star Invest Holding Company for Financial Investments S.A.E. aims to establish itself as a leading provider of integrated electric transportation solutions in the Middle East and Africa. This collaboration with Emirates Mobility – Abu Dhabi, a major player in the electric and conventional car manufacturing and distribution sector, will greatly contribute to our goal. We appreciate the support provided by the Egyptian government in promoting the localization of the electric car industry, which encourages more investors to consider investing in Egypt. Additionally, we commend the government’s efforts to align with global trends towards green energy and sustainable practices, particularly through the adoption of electric cars to reduce emissions and decrease reliance on traditional fuels.”

The automobile markets in Egypt and the Arab region are expected to undergo significant changes in the near future, following the announcement of a cooperation agreement between Star Invest Holding Company for Financial Investments S.A.E. and Emirates Mobility – Abu Dhabi. This partnership aims to enhance collaboration, share technical expertise, and promote economic growth in the electric and traditional automobile sectors.

This agreement is expected to significantly benefit the growth of both the electric and traditional automobile industries and their components by enhancing local manufacturing capabilities, ultimately aiming for self-sufficiency in innovating and producing advanced technologies with efforts to mitigate harmful emissions and promote environmental sustainability in electric vehicle manufacturing technology. The agreement’s goal is focused on fostering cooperation, exchanging knowledge and experiences, and accelerating integrated industrial partnerships among Arab partners – aligning with the UAE’s vision for innovation in the automotive industry and driving sustainable economic growth.

The significance of this agreement stems from its signing between two major companies in the automotive industry in Egypt and UAE. Emirates Mobility is committed to sustainable economic development and investment in automotive manufacturing, aiming to establish value-added chains for both electric and traditional automotive industries.  Star Invest Holding Company for Financial Investments S.A.E. possesses over 35 years of experience in the automotive sector in Egypt, and is the parent company of several entities including National Automotive Company “Natco”. S.A.E specializes in investment in car manufacturing and distribution, and is recognized as the leading distributor of Mercedes-Benz passenger cars in Egypt, operating through its self-owned entities, the Alexandria and Star National Automotive companies, as well as the Egyptian German Automotive Company and assembly plant “EGA”.

The agreement entails exploring options for both companies to invest in each other’s shares, in order to improve electric car manufacturing technology, and establish a robust supply system for manufacturing, assembly, and distribution of cars and their components. This will contribute to strengthening the national industry, and supporting the development of the electric car sector in Egypt and the Emirates of Abu Dhabi, while promoting environmental sustainability.

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