{"id":656512,"date":"2024-12-05T00:00:00","date_gmt":"2024-12-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/05\/nissan-egypt-to-invest-usd-45-mn-in-new-locally-assembled-model\/"},"modified":"2024-12-05T00:00:00","modified_gmt":"2024-12-05T00:00:00","slug":"nissan-egypt-to-invest-usd-45-mn-in-new-locally-assembled-model","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/05\/nissan-egypt-to-invest-usd-45-mn-in-new-locally-assembled-model\/","title":{"rendered":"Nissan Egypt to invest USD 45 mn in new locally assembled model"},"content":{"rendered":"

Nissan Egypt will soon bring its third locally assembled model to Egypt<\/strong>, following an agreement inked with the government to invest USD 45 mn into manufacturing, according to a cabinet statement<\/a>.<\/p>\n

As expected, exports are part of the plan<\/strong>, with the company aiming to produce 10k units of the new model for the local market and export 7k units annually. Nissan Egypt Managing Director Mohamed Abdel Samad said the company aims to increase exports by 50% this fiscal year and noted that the automaker\u2019s Egypt arm has already earned USD 150 mn in export revenues, according to a separate cabinet statement<\/a>.<\/p>\n

And so too is upping the ratio of local components used<\/strong>, with the project targeting at least 54% local components. Nissan has a good track record on this front, with its popular Sunny model having the highest local component ratio of any passenger car in the local market, according to Abdel Samad.<\/p>\n

The company plans to pump USD 2 mn into increasing <\/strong>production capacity<\/strong> across all three of its locally produced models next year, with the company\u2019s current production capacity of 25k units set to rise above 30k in 2025.<\/p>\n

Our auto localization program is apparently paying off<\/strong>, with Nissan Africa head Jordi Vila noting that our Automotive Industry Development Program<\/a> (AIDP) was a pivotal factor in Nissan\u2019s decision to expand its local operations.<\/p>\n

The Japanese automaker had already told us their plans to launch a new model earlier int <\/strong>year<\/strong>, as part of a USD 55.9 mn investment<\/a> in the Egyptian market through 2026 that will also see the company establish a freezone, more renewables capacity, a water treatment plant, and a technical school.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company plans to produce 17k units of the new model annually<\/p>\n","protected":false},"author":1,"featured_media":656513,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[144,72,131,2532],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-enterpriseam","tag-manufacturing","tag-nissan","wpautop","entry"],"acf":{"mongo_id":"3c84e7b9-909f-4c82-9703-4212669a0c7e","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/504.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Nissan Egypt to invest USD 45 mn in new locally assembled model","related_issue":[656499],"teaser":"The company plans to produce 17k units of the new model annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.514e7b74-2ee4-4b6e-89f7-98ed13c5dd1c.mp3"},"yoast_head":"\nNissan Egypt to invest USD 45 mn in new locally assembled model - 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