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August auto sales slow to 5.6% as trucks stall and imports pull ahead
Passenger cars carried the month while trucks fell and imported cars stretched their lead over local assembly
Elsewedy Electric proposes EV assembly plant in Algeria under Elsewedy Ezz brand
Elsewedy Electric submitted a feasibility study to Algeria’s PM to build an electric and hybrid vehicle plant targeting 25% exports…
Bank NXT backs Ezz Elarab Elsewedy’s paint plant and factory expansion
A EGP 2.1 bn Bank NXT facility will fund a new automotive paint plant and expand Ezz Elarab Elsewedy’s factory…
Gov’t rejected VW’s request for incentives beyond the standard package
Plus: The AfDB is giving a USD 3.55 mn reimbursable grant to a green ammonia project in East Port Said
EgyptAir named World’s Most Improved Airline, jumping 64 ranks in three years
Plus: FRA freezes Speed Medical’s EGP 600 mn capital hike, halts shareholder vote.
Emaar Misr signs EGP 14 bn in construction contracts for Marassi Red Sea
Plus: Banque Misr moves to shut down sukuk subsidiary after no revenue, tighter CBE guardrails
BME signs contract with China’s CATL for EGP 2 bn battery systems plant
The facility will start with commercial-vehicle batteries before expanding into passenger cars and renewable-energy storage with 40% local content
July auto sales jump 15.6% y-o-y, as buses, trucks outpace passenger cars
The auto market grew 15.6% y-o-y in July as buses and trucks once again drove growth, with passenger cars staging…
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