{"id":596679,"date":"2019-07-04T13:48:43","date_gmt":"2019-07-04T13:48:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/04\/egypt-in-talks-with-a-number-of-automotive-companies-for-local-assembly\/"},"modified":"2019-07-04T13:48:43","modified_gmt":"2019-07-04T13:48:43","slug":"egypt-in-talks-with-a-number-of-automotive-companies-for-local-assembly","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/04\/egypt-in-talks-with-a-number-of-automotive-companies-for-local-assembly\/","title":{"rendered":"Egypt in talks with a number of automotive companies for local assembly"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <b>EXCLUSIVE- Tata joins host of automotive companies in talks to invest in Egypt: <\/b>India\u2019s Tata Motors is in talks with the Egyptian government to assemble its cars locally in Egypt, two officials close to the talks told Enterprise. Meetings with Tata and other automotive companies from Japan and China will continue until early next year, with agreements expected to be signed soon after, the officials said. This comes as Nissan is in talks with the Trade and Industry Ministry for a project in Ain Sokhna, Public Enterprises Minister Hisham Tawfik <a href=\"https:\/\/menafn.com\/1098716173\/Egypt-Negotiations-with-Korean-Chinese-companies-to-manufacture-electric-cars-within-El-Nasr-Automotive-Factories-Hesham-Tawfik\">told the local press<\/a>, without providing details on the potential project. The Trade and Industry Ministry is also in talks with China\u2019s Dongfeng, which is seriously studying the possibility of manufacturing electric cars in Egypt, which can be used by the government, turned into taxis, or exported to Europe, the <a href=\"http:\/\/www.mti.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D9%88%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D9%8A%D8%A8%D8%AD%D8%AB-%D9%85%D8%B9-%D8%A5%D8%AD%D8%AF%D9%89-%D9%83%D8%A8%D8%B1%D9%8A%D8%A7%D8%AA-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D9%8A%D9%86%D9%8A%D8%A9-%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%83%D9%87%D8%B1%D8%A8%D8%A7%D8%A6%D9%8A%D8%A9-%D8%A8%D8%A7%D9%84%D8%B3%D9%88%D9%82-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A.aspx\">ministry said<\/a>. Sources had told us last month that Suzuki and Isuzu were also holding talks with the government to invest here.<\/p>\n<p><b>Is Raya getting a piece of the action? <\/b>Raya Holding subsidiary <a href=\"http:\/\/www.rayacorp.com\/business-lines\/raya-auto\/\">Raya Auto<\/a> CEO Tamer Abdel Aziz was quoted <a href=\"https:\/\/www.alborsaanews.com\/2019\/07\/03\/1220612\">in the press<\/a> yesterday saying the company is in talks with one Indian and two Chinese global automotive companies, all of which were unnamed, to manufacture electric vehicles and motorcycles in Raya\u2019s recently inaugurated 6 October factory. The company opened talks with the Trade and Industry Ministry <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/10\/rayas-manufacturing-arm-seeking-licence-to-assemble-electric-cars\/\">last month<\/a> to obtain a manufacturing license, and then said it is planning to assemble light electric vehicles with initial investments of EGP 110 mn.<\/p>\n<p><b>What\u2019s gotten all these companies interested?<\/b> News of the talks began appearing not long after it was revealed that the government was leaning towards a package of incentives for the auto industry eerily similar to the long-awaited automotive directive. <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/17\/egypt-to-provide-large-custom-discounts-to-power-its-domestic-car-industry\/\">Sources told Enterprise<\/a> at the time that the incentives, which would include customs breaks reaching 100%, would be a sliding scale based on how much local content manufacturers use, starting at 10%. The new incentives program<a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/23\/govt-agrees-to-start-incentives-for-car-manufacturers-that-use-at-least-45-local-content\/\">is with the Madbouly Cabinet for review<\/a>. Mercedes-Benz <a href=\"https:\/\/enterprise.press\/stories\/2019\/06\/25\/egypt-signs-agreement-for-mercedes-benz-to-bring-its-automotive-assembly-to-the-sczone\/\">signed an MoU<\/a> earlier this week with the government to set up an assembly plant in the Suez Canal Economic Zone (SCZone).<\/p>\n<p><b>Can we just forget about El Nasr, already?<\/b> An MoU signed between Nissan and state-owned El Nasr Automotive <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/20\/nissan-el-nasr-automotive-to-manufacture-100k-cars-a-year\/\">in March<\/a>, which would have seen the former use the latter\u2019s factories to produce 100k cars annually, has been terminated, Tawfik said. The signing had followed remarks by Nissan\u2019s MENA and India Chairman Peyman Kargar <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-03-19\/nissan-looks-to-capture-pole-position-in-egypt-and-gulf-by-2022\">to Bloomberg<\/a> that the company was looking to increase its output from its factory in Egypt to 28,000 vehicles, up from 22,000, this fiscal year. Yet despite this, and the decades-long flatlining of the company, the government still cannot bring itself to pull the plug on it. The Public Enterprises Ministry is also planning talks with a number of Chinese and Korean companies to manufacture electric cars at El Nasr-owned facilities, Tawfik said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- Tata joins host of automotive companies in talks to invest in Egypt: India\u2019s Tata Motors is in talks with the Egyptian government to assemble its cars locally in Egypt, two officials close to the talks told Enterprise. Meetings with Tata and other automotive companies from Japan and China will continue until early next year, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":596680,"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":[8572],"tags":[144,116,250,72,1404,125,11151,131,2532,2380,8325],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-automotive","tag-china","tag-el-nasr-automotive","tag-enterpriseam","tag-india","tag-investment-watch","tag-isuzu","tag-manufacturing","tag-nissan","tag-speed-round","tag-tata-motors","wpautop","entry"],"acf":{"mongo_id":"48183967-74a4-438d-8965-f652b4907db3","is_powered_by":true,"section_story_id":"407b169e-a4fa-4f73-987f-63b6b349405e","story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/381.jpg","photo_position":"above","related_issue":[596669],"teaser":"","voice_url":""},"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>Egypt in talks with a number of automotive companies for 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\/2019\/07\/04\/egypt-in-talks-with-a-number-of-automotive-companies-for-local-assembly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt in talks with a number of automotive companies for local assembly\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Tata joins host of automotive companies in talks to invest in Egypt: India\u2019s Tata Motors is in talks with the Egyptian government to assemble its cars locally in Egypt, two officials close to the talks told Enterprise. 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The sources did not disclose which facilities are being looked at, or the expected investment value and timeline\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593277,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/24\/attracting-fdi-into-the-automotive-sector-remains-a-challenge-el-sisi-admits\/","url_meta":{"origin":596679,"position":1},"title":"Attracting FDI into the automotive sector remains a challenge, El Sisi admits","author":"enterpriseam admin","date":"24 November 2019","format":false,"excerpt":"INVESTMENT WATCH- Attracting FDI into the automotive sector remains a challenge, El Sisi says: The government hasn\u2019t been able to attract the foreign direct investment needed to spur growth in the automotive industry, President Abdel Fattah El Sisi said during the Investment for Africa Forum, which wrapped up yesterday in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/34.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597450,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/28\/egypt-targets-usd-5-bn-auto-sector-fdi-over-two-years\/","url_meta":{"origin":596679,"position":2},"title":"Egypt targets USD 5 bn auto sector FDI over two years","author":"enterpriseam admin","date":"28 July 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t targeting USD 5 bn auto sector FDI over two years: The government is hoping to attract USD 5 bn of foreign direct investment into the automotive sector within the next two years, two government sources told Enterprise. The target is part of a plan to develop the sector\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/6\/1903.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628205,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/27\/autoplast-in-talks-with-general-motors-egypt-to-produce-auto-components\/","url_meta":{"origin":596679,"position":3},"title":"Autoplast in talks with General Motors Egypt to produce auto components","author":"enterpriseam admin","date":"27 June 2018","format":false,"excerpt":"Plastic manufacturer Autoplast is in talks with General Motors Egypt to locally produce and export car parts, Development Manager Ehab Abo El Enein tells Al Mal. The two companies will be meeting early next month to agree on the prices and quantities. Autoplast will also be holding similar talks with\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":602163,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/20\/nissan-el-nasr-automotive-to-manufacture-100k-cars-a-year\/","url_meta":{"origin":596679,"position":4},"title":"Nissan, El Nasr Automotive to manufacture 100k cars a year","author":"enterpriseam admin","date":"20 March 2019","format":false,"excerpt":"Nissan, El Nasr Automotive to manufacture 100k cars a year: Nissan and state-owned El Nasr Automotive have signed a memorandum of understanding (MoU) to produce 100k cars a year in Egypt, according to a Public Enterprises Ministry statement (pdf). 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