{"id":581764,"date":"2023-02-23T00:00:00","date_gmt":"2023-02-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/stellantis-nissan-and-mansour-could-invest-usd-145-mn-in-local-assembly\/"},"modified":"2023-02-23T00:00:00","modified_gmt":"2023-02-23T00:00:00","slug":"stellantis-nissan-and-mansour-could-invest-usd-145-mn-in-local-assembly","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/stellantis-nissan-and-mansour-could-invest-usd-145-mn-in-local-assembly\/","title":{"rendered":"Stellantis, Nissan and Mansour could invest USD 145 mn in local assembly"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Stellantis, Nissan and Al Mansour Automotive <\/span><span style=\"font-weight:700\">could <\/span><span style=\"font-weight:700\">invest a total of USD 145 mn in the nation\u2019s auto industry over the next three years<\/span><span style=\"\"> under individual framework agreements signed with the government earlier this month, Prime Minister Moustafa Madbouly <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Z9QvAk\" style=\"\">said yesterday<\/a><\/span><span style=\"\">. If all three agreements are executed, the companies would produce a total of 60k-70k traditional and electric vehicles every year, some of which would be earmarked for export, the PM said. Madbouly didn\u2019t specify how many traditional vehicles will be assembled versus EVs<\/span><span style=\"font-weight:400;\"> or break down the split by assembler.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background: <\/span><span style=\"\">Madbouly\u2019s statements <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/16\/big-steps-forward-for-our-national-automotive-strategy-97061\/\" style=\"\">come days<\/a><\/span><span style=\"font-weight:400;\"> after the government signed framework agreements with the three automakers on localizing their assembly operations. The agreements aim to \u201cachieve binding cooperation between the government and the companies towards the goals of the [national automotive strategy],\u201d working with all three of the new automotive bodies as well as state investment body GAFI, cabinet said last week.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span style=\"\">The government is still working on its long-awaited automotive strategy AKA the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/03\/13\/a-first-look-at-the-long-awaited-automotive-strategy-bidding-for-new-ev-charging-company-management-this-week-66761\/\" style=\"\">Automotive Industry Development Program (AIDP)<\/a><\/span><span style=\"\">. The strategy is expected to offer incentives to carmakers to increase local assembly and component manufacturing, increase the sector\u2019s competitiveness, and raise exports.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stellantis, Nissan and Al Mansour Automotive could invest a total of USD 145 mn in the nation\u2019s auto industry over the next three years under individual framework agreements signed with the government earlier this month, Prime Minister Moustafa Madbouly said yesterday. If all three agreements are executed, the companies would produce a total of 60k-70k [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581765,"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":[7272],"tags":[144,357,72,125,3040,2532,1888],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-automotive","tag-automotive-directive","tag-enterpriseam","tag-investment-watch","tag-mansour-group","tag-nissan","tag-stellantis","wpautop","entry"],"acf":{"mongo_id":"5d8901c0-74be-4bac-b18f-c911b3869c11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/car-manufacturing-1600px-1.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581751],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.d825a19f-1fe8-48d2-adcd-41d4a7bf6ae0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Stellantis, Nissan and Mansour could invest USD 145 mn in local assembly - 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\/2023\/02\/23\/stellantis-nissan-and-mansour-could-invest-usd-145-mn-in-local-assembly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stellantis, Nissan and Mansour could invest USD 145 mn in local assembly\" \/>\n<meta property=\"og:description\" content=\"Stellantis, Nissan and Al Mansour Automotive could invest a total of USD 145 mn in the nation\u2019s auto industry over the next three years under individual framework agreements signed with the government earlier this month, Prime Minister Moustafa Madbouly said yesterday. 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