On September 13, witnessed by Egyptian Prime Minister Madbouly, CATL and Egyptian battery manufacturer BME officially signed a cooperation agreement, announcing the construction of a battery manufacturing plant in Egypt.
Under the agreement, the first phase of the project involves an investment of more than EGP 2 billion (approximately Yuan 260 million), with a planned annual capacity of 1 GWh in the first phase, focusing on battery systems for heavy-duty commercial vehicles. The second phase will raise total capacity to 5 GWh, extend the product line to passenger vehicle batteries and energy storage systems for solar and wind power storage, and target a 40% localization rate.
Edited by Cassie Li, lixiangying@mysteel.com
