Joint BME and CATL Factory to Produce Electric Batteries in Egypt for 2 Billion Pounds

Egyptian battery manufacturer BME has signed a partnership agreement with Chinese company Contemporary Amperex Technology Co. Limited (CATL), one of the world's largest electric battery manufacturers, to establish an industrial base for battery systems manufacturing in Egypt with initial investments exceeding 2 billion pounds.

Prime Minister Mostafa Madbouly witnessed the signing of the contract, which took place between Majed Wahib, chairman of BME's board of directors, and Lu Haining, director of international investment at CATL, in the presence of Industry Minister Khaled Hashem, project manager Amin Karim Ghabour, and board member Lotfi Tadros.

The factory will focus in its first phase on batteries for heavy commercial vehicles, with an annual production capacity of one gigawatt-hour (1 GWh). In the second phase, production capacity is planned to rise to 5 gigawatt-hours annually, expanding to cover batteries for private vehicles and solar and wind energy storage systems.

The project targets a local content ratio of 40%, with an orientation toward serving the Egyptian market and export markets.