Auto players promise significant investments in Egypt as localization push continues
Egyptian International Motors and Stellantis pledge major investments in the local auto sector
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Egyptian International Motors and Stellantis pledge major investments in the local auto sector
The models will include a hybrid and a gasoline-powered model
The company will use the funds to enhance its local manufacturing capabilities
The company’s expansion plans involve establishing new production lines and expanding the percentage of local components used
The big pharma giant also wants to localize 80% of units produced at its Egypt plant by 2028
The company will initially begin producing at third-party production lines, until it establishes its own independent factory within three years
The company called the move a “vote of confidence” in Egypt’s infrastructure
BMI expects Egypt to produce 37k vehicles in 2024
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