The National Automotive Company "NATCO" signed an agreement with "Belton," a subsidiary of Belton Financial Holding, to become the financial advisor for the issuance of bonds in the Egyptian market worth 1 billion pounds. Part of this issuance will be allocated to green bonds to expand in the field of electric vehicles, manufacturing car chargers, and establishing charging stations, distribution centers, and after-sales services. "NATCO" is the first company in Egypt to consider issuing green bonds while planning to float a portion of its shares on the Egyptian Stock Exchange.
Yasser Saleh, the CEO of the group, stated that "NATCO" will issue bonds worth 1 billion pounds in the coming period to finance expansions in after-sales service centers and distribution for the "Mercedes-Benz" car distribution network in various locations, following the signing of a new distribution agreement with the company.
Additionally, the company plans to expand in the sale, distribution, maintenance, and charging of electric vehicles by starting to establish a network of regular, fast, and ultra-fast charging stations to support all types of European, Chinese, and American charging protocols throughout the republic, aligning with the international and local shift towards sustainable electric transportation solutions.
The company plans to offer a package of innovative technological solutions for the first time in Egypt and the region, aimed at facilitating and encouraging consumers to acquire and use electric vehicles of all types and categories. The group is currently studying the manufacturing of electric car chargers in collaboration with local and international partners through the group's industrial arm, represented by the Egyptian-German Automotive Company (EGA), which is currently manufacturing four-wheel-drive "Mercedes-Benz" cars in Egypt.
He clarified that the strategic plan of the group seeks to keep pace with the rapid changes in the automotive industry and distribution by providing highly advanced technological solutions, enabling Egyptian consumers to enjoy the advanced technology of electric vehicles and ensuring a vast network of charging stations across all governorates in stages.
He also pointed out that the company is considering the possibility of floating part of its shares for public subscription to broaden the investor base and achieve maximum value and benefit for current and future shareholders. This step aims to open wide horizons for securing financing for its current and future operations.
