{"id":547527,"date":"2022-06-26T03:16:04","date_gmt":"2022-06-26T03:16:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/26\/were-not-done-with-auto-news-just-yet\/"},"modified":"2022-06-26T03:16:04","modified_gmt":"2022-06-26T03:16:04","slug":"were-not-done-with-auto-news-just-yet","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/26\/were-not-done-with-auto-news-just-yet\/","title":{"rendered":"We\u2019re not done with auto news just yet"},"content":{"rendered":"

<\/a> Abou Ghaly Motors is now in the final stage of negotiations with Chinese <\/strong>automaker Geely to begin producing their cars in Egypt<\/strong> under a long-term contract, Abou Ghaly\u2019s commercial director, Tamer Kotb, told Enterprise. Abou Ghaly is conducting feasibility studies and the two sides are now finalizing details including pricing, volumes, local component usage rates, and what kits to import, he explained. Geely is expected to provide the know-how, technical support, and quality control.<\/p>\n

Contracts are expected to be signed by the end of July, with an eye to starting production in August 2023<\/strong>, Kotb added. The cars will be produced at the factories of the Arab Organization for Industrialization\u2019s Arab American Vehicles Company in West Cairo. The company plans to start by producing 4k cars in the first year and grow output by 20% annually until it reaches 7k cars per year, Kotb said.<\/p>\n

Abou Ghaly is accelerating the timeline as importing cars to the Egyptian market <\/strong>becomes more difficult<\/a><\/strong>, Kotb added. The move also comes amid the state\u2019s local manufacturing push<\/a> \u2014 including the launch of its Egyptian Automotive Industry Development Program (AIDP<\/a>). The automaker will begin by using 45% local components and gradually increase that percentage with time, he told us.<\/p>\n

The local automaker will start with <\/strong>one of Geely\u2019s traditional economy lines<\/strong> before moving into EVs: <\/strong>Abou Ghaly plans to soon shift to manufacturing Geely\u2019s electric vehicles (EVs), but is waiting for local demand to grow and the infrastructure to develop, Kotb explained.<\/p>\n

The longer-term strategy is to build a dedicated factory for Geely cars<\/strong> with the aim of making Egypt the Chinese company\u2019s manufacturing hub for MENA and later Europe, Kotb told us. The factory will have the capacity to manufacture 20k cars every year, but a timeline has not yet been set for its launch.<\/p>\n

IN OTHER AUTOMOTIVE NEWS- <\/strong><\/p>\n

Some 20k vehicles were delivered in FY2021-2022 in the government\u2019s <\/strong>natgas vehicle<\/a><\/strong>replacement strategy<\/a><\/strong>, where traditional passenger cars, taxis, and microbuses are replaced by dual-fuel vehicles that run on natural gas, a statement<\/a> by the Finance Ministry read. The government has received some 39k requests to participate to date in the scheme.<\/p>\n

The state has so far spent some EGP 465 mn on the plan <\/strong>and recently added Sharm El Sheikh to the initiative, which now includes Luxor, Aswan, Cairo, Giza, Qalubiya, Alexandria, Port Said, Suez and the Red Sea, the statement read.<\/p>\n

The <\/strong>plan was expected to see <\/strong>250k old cars<\/a><\/strong> swapped out with natgas-run cars by the <\/strong>end of 2023<\/strong>, Trade Minister Nevine Gamea said in 2020, but shortages and price hikes for raw materials have caused issues. Companies participating in the program were last month given the greenlight to hike prices<\/a> by up to 45% in response to rising inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"

Abou Ghaly Motors is now in the final stage of negotiations with Chinese automaker Geely to begin producing their cars in Egypt under a long-term contract, Abou Ghaly\u2019s commercial director, Tamer Kotb, told Enterprise. Abou Ghaly is conducting feasibility studies and the two sides are now finalizing details including pricing, volumes, local component usage rates, […]<\/p>\n","protected":false},"author":1,"featured_media":547528,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[2095,144,72,2093,2094],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-arab-american-vehicles-company","tag-automotive","tag-enterpriseam","tag-geely","tag-tamer-kotb","wpautop","entry"],"acf":{"mongo_id":"8a6da68b-6661-478c-8afb-373eea95e691","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/300.jpg","photo_position":"above","related_issue":[547516],"teaser":"","voice_url":""},"yoast_head":"\nWe\u2019re not done with auto news just yet - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/26\/were-not-done-with-auto-news-just-yet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We\u2019re not done with auto news just yet\" \/>\n<meta property=\"og:description\" content=\"Abou Ghaly Motors is now in the final stage of negotiations with Chinese automaker Geely to begin producing their cars in Egypt under a long-term contract, Abou Ghaly\u2019s commercial director, Tamer Kotb, told Enterprise. 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The catch: If you want one you\u2019ll need to pay in USD through Abou Ghaly\u2019s freezone company in Alexandria due to the\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/Geely-EV-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547464,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/22\/abou-ghaly-could-get-egp-175-mn-from-ebrd-to-electrify-london-cab-fleet\/","url_meta":{"origin":547527,"position":1},"title":"Abou Ghaly could get EGP 175 mn from EBRD to electrify London Cab fleet","author":"enterpriseam admin","date":"22 June 2022","format":false,"excerpt":"Abou Ghaly looks to EBRD for EV funding: Abou Ghaly Motors (AGM) could receive up to EGP 175 mn (EUR 9 mn) from the European Bank for Reconstruction and Development (EBRD) to fund the acquisition of electric vehicles (EVs), according to the lender\u2019s website.The money will finance the electrification of\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558537,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/abou-ghaly-motors-is-now-local-agent-of-geely\/","url_meta":{"origin":547527,"position":2},"title":"Abou Ghaly Motors is now local agent of Geely","author":"enterpriseam admin","date":"16 August 2021","format":false,"excerpt":"Geely cars will now be sold in Egypt by Abou Ghaly Motors: Chinese carmaker Geely Auto has inked an agreement with local agent Abou Ghaly Motors to sell its vehicles in Egypt, less than a fortnight after splitting from GB Auto, Geely announced in a statement (pdf) yesterday. The two\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/174.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557398,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/16\/geely-and-abou-ghaly-make-it-official\/","url_meta":{"origin":547527,"position":3},"title":"Geely and Abou Ghaly make it official","author":"enterpriseam admin","date":"16 September 2021","format":false,"excerpt":"Geely and Abou Ghaly make it official: Chinese carmaker Geely Auto has inked a strategic partnership agreement with local agent Abou Ghaly Motors to sell its vehicles in Egypt. The partnership was first announced in August, soon after GB Auto parted ways with Geely, having introduced it to the market.","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546688,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/25\/dont-hold-your-breath-if-you-expect-to-buy-a-new-car-anytime-soon\/","url_meta":{"origin":547527,"position":4},"title":"Don\u2019t hold your breath if you expect to buy a new car anytime soon","author":"enterpriseam admin","date":"25 May 2022","format":false,"excerpt":"Need a new car? Good luck. Some foreign car manufacturers have suspended sales to Egypt after a change to how imports are paid for has left local dealers unable to purchase vehicles, industry sources say, confirming reports first published by Al Borsa and Al Mal on Monday.The new supply constraints\u2026","rel":"","context":"In "Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":657026,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/13\/the-guide-to-going-electric\/","url_meta":{"origin":547527,"position":5},"title":"The guide to going electric","author":"enterpriseam admin","date":"13 December 2024","format":false,"excerpt":"A dive into the local EV market: While the electric vehicle (EV) market in Egypt is still nascent, options are available for those interested in plugging in. In Part 1 of this guide, we took a deep dive into the benefits and challenges of owning an EV in Egypt, including\u2026","rel":"","context":"In "THE ENTERPRISE GUIDE"","block_context":{"text":"THE ENTERPRISE GUIDE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-enterprise-guide\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/12\/1242.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547527"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547527\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547516"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547528"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547527"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547527"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}