{"id":608096,"date":"2023-10-15T00:00:00","date_gmt":"2023-10-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/mansour-auto-plans-new-factory-for-vehicle-assembly-components-manufacture\/"},"modified":"2023-10-15T00:00:00","modified_gmt":"2023-10-15T00:00:00","slug":"mansour-auto-plans-new-factory-for-vehicle-assembly-components-manufacture","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/15\/mansour-auto-plans-new-factory-for-vehicle-assembly-components-manufacture\/","title":{"rendered":"Mansour Auto plans new factory for vehicle assembly, components manufacture"},"content":{"rendered":"

Al Mansour Automotive is looking to set up a USD 35 mn car assembly and spare parts plant<\/strong>, according to a cabinet statement<\/a> on Thursday. This is in line with the Madbouly government\u2019s automotive strategy<\/a> which aims to develop the local car industry in order for Egypt to become a regional manufacturing hub. Information about the timeline for the potential investment wasn\u2019t disclosed.<\/p>\n

Is Mansour bringing anyone along for the ride? <\/strong>The statement following the meeting between Prime Minister Moustafa Madbouly and company chairman Mohamed Mansour and CEO Ankush Arora did not disclose whether the company would be partnering with foreign firms on the project.<\/p>\n

Assembling EVs? <\/strong>While information about whether the potential factory will be assembling electric vehicles (EVs) or gasoline-powered cars hasn\u2019t been made public, last year<\/a> the company announced it was close to finishing feasibility studies to start assembling EVs in Egypt. In November,Mohamed Mansour said that he intended to produce 15k EVs over the next three years and the company signed an MoU with long-term partner General Motors in late 2021 to explore the possibility of partnering up to produce EVs locally.<\/p>\n

Plans for a 50% locally produced EV:<\/strong> The company also presented a feasibility study to Madbouly for the production of a new electric vehicle made initially with 50% local components, the statement reads. The company added that the locally made EV would progressively be made with more locally produced parts over several years, create thousands of jobs, and produce EVs at more affordable prices.<\/p>\n

Remember:<\/strong> MPs approved legislation in July<\/a> that will see the establishment of a new regulatory body to set policy for the local automotive industry (including EV assembly). The legislation also set up a new fund to offer incentives to companies in the business of assembling environmentally-friendly cars. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company is set to invest USD 35 mn in the project<\/p>\n","protected":false},"author":1,"featured_media":608097,"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":[144,72,356,125,3040,131,281],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-automotive","tag-enterpriseam","tag-evs","tag-investment-watch","tag-mansour-group","tag-manufacturing","tag-moustafa-madbouly","wpautop","entry"],"acf":{"mongo_id":"f46bde1c-c224-4074-b40a-c29e1224ea8a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/699.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Mansour Auto plans new factory for vehicle assembly, components manufacture","related_issue":[608080],"teaser":"The company is set to invest USD 35 mn in the project","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.dfa65a6a-c769-45dd-822f-a19c40a120a6.mp3"},"yoast_head":"\nMansour Auto plans new factory for vehicle assembly, components manufacture - 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PLUS: Madbouly meets GM + Egypt-Saudi interconnector.","author":"enterpriseam admin","date":"14 March 2023","format":false,"excerpt":"Fitch expects tourism revenues to rise almost 20% this year","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\/2023\/3\/Tourist-in-Aswan-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553407,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/02\/gm-al-mansour-auto-could-partner-up-to-produce-evs\/","url_meta":{"origin":608096,"position":3},"title":"GM + Al Mansour Auto could partner up to produce EVs","author":"enterpriseam admin","date":"2 December 2021","format":false,"excerpt":"General Motors and Al Mansour Automotive could partner up to produce electric vehicles in Egypt under a memorandum of understanding signed by the two companies yesterday, Mansour Auto Chairman Mohamed Mansour told Reuters. 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