Liangjiang NEVs expand into Egypt

A Seres M9 assembled. [Photo by Wang Jiaxi]

Seres, a prominent new energy vehicle (NEV) brand from Liangjiang New Area, Chongqing, has announced its entry into the Egyptian market through a strategic partnership with local enterprise Kasrawy Group.

Egypt, a key automotive market in Africa, has implemented progressive policies to foster the development of electric vehicles, including a "zero tariff" policy on imports. This favorable environment provides an excellent opportunity for Seres to introduce its premium electric vehicles to Egyptian consumers.

Kang Bo, vice-president of Seres Group, highlighted that the partnership will use Kasrawy Group's extensive resources and distribution channels to accelerate the brand's globalization.

Seres has already established a strong presence in various global markets, including Norway, Germany, the UK, Switzerland, the Middle East, the Americas, and Africa, with over 500,000 vehicles exported.

In 2023, Chongqing launched the "Chongqing Cars Going Global" plan, aiming to have the city's annual vehicle exports account for 10 percent of China's total by 2027 and enhance the global reputation of Chongqing-made automobiles.

Liangjiang serves as the central hub for Chongqing's ambitions to become a leader in smart and connected NEVs. Supported by brands such as Seres, Avatr, and DeepBlue, the area is rapidly moving up the value chain. The average value per unit has already surpassed 220,000 yuan ($30,476), reflecting Liangjiang's commitment to producing high-end vehicles.