Tawfik clarified in a TV interview that the price of the electric car will be about LE 350,000.
The consumer's choice will be majorly determined by the price of the vehicle, and the prices of gas and charge.
The car will be produced by El Nasr Automotive Manufacturing Co.
An official made the statement in a meeting with the Energy and Environment Committee at the House of Representatives.
Asar and Local Development Minister Mahmoud Shaarawy met with officials from China's Foton Motor to discuss a venture to jointly manufacture electric buses.
Chinese electric vehicle startup NIO has hired eight banks including Morgan Stanley (MS.N) and Goldman Sachs (GS.N) to work on a planned U.S. stock market listing.
The Norwegian island of Finnoey has the highest density of electric cars in the world.
he Norwegian island of Finnoey has the highest density of electric cars in the world,as they are exempt from the $6,000-a-year toll charges for the tunnel to the mainland.
Tesla Chief Executive Officer Elon Musk said the Model 3 had over half a million advance reservations.