{"id":592588,"date":"2023-08-08T00:00:00","date_gmt":"2023-08-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/al-amal-wants-to-resume-lada-assembly-in-2024\/"},"modified":"2023-08-08T00:00:00","modified_gmt":"2023-08-08T00:00:00","slug":"al-amal-wants-to-resume-lada-assembly-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/al-amal-wants-to-resume-lada-assembly-in-2024\/","title":{"rendered":"Al Amal wants to resume Lada assembly in 2024"},"content":{"rendered":"

Al Amal could resume Lada production in the new year: <\/strong>Al Amal Auto<\/a>, the local agent of Lada and BYD vehicles, is looking to resume assembly of Lada cars in early 2024, Chairman Amr Soliman confirmed to Enterprise. The company is currently in negotiations<\/a> to resume<\/a> assembly with Lada\u2019s manufacturer, Russian carmaker AvtoVAZ. <\/p>\n

Background: <\/strong>Al Amal suspended the assembly of the Lada Granta<\/a> in August 2022 on the back of Western sanctions on Russia and will temporarily suspend operations at its BYD assembly plant<\/a> within a week due to difficulty in obtaining hard currency to import the required production components. The company has for months been teetering on the brink of a shutdown<\/a> as a result of last year\u2019s import restrictions.<\/p>\n

Sanctions against Russia are a primary hurdle: <\/strong> Al Amal and AvtoVAZ are in talks to find a mechanism for conducting financial transfers, which have been made difficult by the SWIFT ban<\/a> against Russian banks.<\/p>\n

Al Amal has slashed its assembly targets: <\/strong> The company is looking to halve its output of Lada cars, which previously stood at some 3k - 3.5k per month. Al Amal lowered its assembly targets on the back of declining demand in the auto market and the devaluation of the EGP, which has driven up car prices, Soliman said. Auto sales have dropped 70%<\/a> this year, Soliman noted, citing data by the Automotive Marketing Information Council. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company stopped assembling the Russian car last year thanks to Western sanctions<\/p>\n","protected":false},"author":1,"featured_media":592589,"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":[2443,144,11031,6539,72,11030,1095],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-al-amal-auto","tag-automotive","tag-avtovaz","tag-egypt-russia-relations","tag-enterpriseam","tag-lada","tag-russia-ukraine-war","wpautop","entry"],"acf":{"mongo_id":"5344bb07-e2f2-4840-a12a-c8ad62f3a50e","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/342.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Egypt\u2019s Al Amal wants resume Lada assembly in 2024","related_issue":[592576],"teaser":"The company stopped assembling the Russian car last year thanks to Western sanctions","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.c9966f8a-7ea6-4317-b435-5ccf6c2b5ae3.mp3"},"yoast_head":"\nAl Amal wants to resume Lada assembly in 2024 - 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\/08\/08\/al-amal-wants-to-resume-lada-assembly-in-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Al Amal wants to resume Lada assembly in 2024\" \/>\n<meta property=\"og:description\" content=\"The company stopped assembling the Russian car last year thanks to Western sanctions\" \/>\n<meta property=\"og:url\" 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year, could look to resume assembly of Lada cars","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\/7\/1190.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591020,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/el-sisi-urges-putin-to-restore-black-sea-grain-pact\/","url_meta":{"origin":592588,"position":1},"title":"El Sisi urges Putin to restore Black Sea grain pact","author":"enterpriseam admin","date":"30 July 2023","format":false,"excerpt":"El Sisi held direct talks with Russian president Vladimir Putin during the summit last week","rel":"","context":"In 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"Automotive"","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/259.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549413,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/15\/auto-assemblers-are-hurting\/","url_meta":{"origin":592588,"position":3},"title":"Auto assemblers are hurting","author":"enterpriseam admin","date":"15 September 2022","format":false,"excerpt":"FROM THE DEPT. OF DUH- Auto assembly in Egypt is hurting right now: Al Amal Auto could be forced to shutter its factory due to import restrictions, Chairman Amr Soliman told Al Mal. The sole agent and distributor of BYD and Lada brandpassenger cars and King Long microbuses in Egypt,\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":591051,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/30\/this-evening-al-amal-to-suspend-byd-assembly-plant-operations\/","url_meta":{"origin":592588,"position":4},"title":"THIS EVENING: Al Amal to suspend BYD assembly plant operations?","author":"enterpriseam admin","date":"30 July 2023","format":false,"excerpt":"Good afternoon, wonderful people. We\u2019re kicking off a fresh week with plenty of news \u2014 and a couple of blackouts to boot. THE BIG STORY TODAY Al Amal could shutter its local BYD production line soon: Al Amal Auto could within two weeks temporarily suspend operations of its BYD assembly\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/65.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559890,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/what-will-it-take-to-get-electric-cars-on-the-road\/","url_meta":{"origin":592588,"position":5},"title":"What will it take to get electric cars on the road?","author":"enterpriseam admin","date":"8 February 2021","format":false,"excerpt":"Infinity Solar subsidiary Infinity-E will install 300 electric car charging docks across Egypt by 2023 as part of an ongoing plan to invest EGP 300 mn in EV infrastructure, CEO Shams El Din Abdel Ghaffar said, according to Masrawy. Infinity now has a total of 150 charging points in operation\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\/2\/131.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\/592588","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=592588"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592588\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/592576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/592589"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=592588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=592588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=592588"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=592588"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=592588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}