Brilliance Bavaria Auto to assemble Jinbei model cars in Egypt

Brilliance Bavaria Auto says it will assemble Jinbei model cars in Egypt and could build a USD 120 mn assembly plant in the Suez Canal Economic Zone, said Brilliance GM Khalid Sa’ad. The company (a subsidiary of BMW assembler and distributor Bavaria Group) is looking to access incentives in the proposed Investment Act that allow car companies to deduct 40% of the value of their capex outlay from their taxes, he tells Al Mal.