Minister of Investment and Foreign Trade Mohamed Farid said lithium batteries and components for new energy vehicles (NEVs) represent promising sectors under the state’s strategy to deepen local manufacturing and increase value added. He noted that proposed cooperation with Tianneng would allow Egypt to benefit from the company’s expertise and advanced technologies while supporting the localisation of feeder industries for new energy vehicles. Farid witnessed the signing of a memorandum of understanding between Mansour Group and China’s Tianneng Battery Group Co. to explore opportunities for cooperation and investment in battery manufacturing and energy storage solutions in Egypt. This includes studying the production of lead-acid batteries used in vehicles and lithium batteries for new energy vehicles. Farid said Egypt has strong competitive advantages that position it to attract such projects, including its strategic geographical location, infrastructure, transport and logistics networks, as well as the Suez Canal Economic Zone and industrial zones. These advantages support efforts to meet domestic market demand and expand exports. He stressed the government’s readiness to provide various forms of support during the project assessment phase, including offering alternative suitable industrial sites and working to accelerate land allocation and preparation procedures once a final location has been selected. For his part, Eric Xu outlined Tianneng Group’s experience, saying the company has operated in the battery industry for around 40 years. Its activities include automotive batteries, batteries for motors and mobility equipment, battery recycling and energy storage solutions. The group also has expertise across multiple technologies, including lead-acid, lithium, sodium and solid-state batteries. Xu said Tianneng is one of the world’s leading battery manufacturers and ranks first in China in lead-acid battery production, alongside extensive expertise in lithium battery technologies and other advanced battery technologies. He stressed the company’s interest in cooperating with Mansour Group and exploring investment opportunities in Egypt, taking advantage of the strengths of the Egyptian market and the country’s regional location. Xu said the company is currently assessing available options to select the most suitable location for the project and determine which products would be manufactured locally, alongside preparing a feasibility study. The meeting concluded with an agreement to continue coordination between the two parties and relevant government authorities to complete the project studies, determine its location and identify the targeted product portfolio. This would pave the way for the necessary implementation steps, support the localisation of battery manufacturing and encourage increased Chinese investment in Egypt.The post Mansour Group, China’s Tianneng sign MoU to explore battery manufacturing investment in Egypt first appeared on Dailynewsegypt.
