Mansour Auto has big investment plans: Al Mansour Automotive plans to invest some USD 100 mn in the local market over the coming four years, COO Lotfy Mansour told Asharq Business. The company will use the funds to enhance its local manufacturing capabilities, he added.

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We have an idea where part of the funds may go: Late last year, the cabinet announced that the auto player is looking to set up a USD 35 mn car assembly and spare parts plant. While information about whether the potential factory will be assembling EVs or gasoline-powered cars hasn’t been made public, a year prior the company announced it was close to finishing feasibility studies to start assembling EVs in Egypt.

And also: The company is aiming to kick off production of a new MG model in 1Q 2025, with investments amounting to USD 20 mn.

Al Mansour is keeping busy: The company is now the official distributor of the Slovakian Matador Tires in Egypt under a newly-signed partnership agreement between the two sides, Al Borsa reports. Al Mansour will start off with distributing passenger car tires and at a later phase start distributing tires for light trucks.

Remember: The Madbouly government has been working to localize the auto industry, introducing the Egyptian Automotive Industry Development Program (AIDP) in 2022, which will offer incentives to auto players with the aim of localizing the industry and its feeder industries, with the aim of enhancing the country’s existing assembly and manufacturing capabilities — and of encouraging new investment to the sector.

Read more: We dove into the government’s efforts to localize the auto industry in an InsideIndustry published earlier this month.

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