{"id":670936,"date":"2025-08-28T00:00:00","date_gmt":"2025-08-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/28\/gb-auto-to-localize-the-assembly-of-another-hyundai-model\/"},"modified":"2025-08-28T00:00:00","modified_gmt":"2025-08-28T00:00:00","slug":"gb-auto-to-localize-the-assembly-of-another-hyundai-model","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/08\/28\/gb-auto-to-localize-the-assembly-of-another-hyundai-model\/","title":{"rendered":"GB Auto to localize the assembly of another Hyundai model"},"content":{"rendered":"<p class=\"tag-border-left\">AUTOMOTIVE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>GB Auto will pour initial investments of USD 6 mn to begin asse<\/strong><strong>mbling a new <\/strong><strong>non-sedan Hyundai model in its Abu Rawash plant<\/strong>, Hyundai Franchise Vice President Fadi Mohsen told <a target=\"_blank\" href=\"https:\/\/hapijournal.com\/2025\/08\/27\/%d8%ac%d9%8a-%d8%a8%d9%8a-%d8%a3%d9%88%d8%aa%d9%88-%d8%aa%d8%b3%d8%aa%d8%ab%d9%85%d8%b1-6-%d9%85%d9%84%d8%a7%d9%8a%d9%8a%d9%86-%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d9%84%d8%aa%d8%ac%d9%85%d9%8a%d8%b9\/\" style=\"\" rel=\"noopener\">Hapi Journal<\/a>, without disclosing the details. Production will begin with 5k units a year and go up to 15k units by mid-2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p class=\"tag-border-left\">OIL AND GAS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Madbouly cabinet <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/share\/p\/1FCwLVBa8u\/\" style=\"\" rel=\"noopener\">approved<\/a><\/strong><strong> two draft petroleum exploration and <\/strong><strong>exploitation agreements<\/strong> between Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and international partners. One of the agreements is for oil exploration in the Eastern Desert, and the second is for gas and crude oil exploration in the Nile Delta.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INVESTMENT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Supermarket chain Bim plans to set up an EGP 1 bn logistics hub in Ismailia<\/strong>, Director of Legal Affairs Ehab Khalil told <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2025\/08\/27\/1911114\" style=\"\" rel=\"noopener\">Al Borsa<\/a>. The new facility will include multiple warehouses and cold storage units for essential goods, which will serve Bim\u2019s retail branches in Ismailia, Canal cities, and Sharqia. The company has already launched tenders for contractors to execute the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>The move comes on the heels of reports from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f346367b-33ce-4d6a-b1ba-68e8e49edcb1\/foreign-reserves-increase-to-usd-49-bn-in-july\" style=\"\" rel=\"noopener\">earlier this month<\/a> that Bim is investing EGP 2 bn to open 200 new branches across Egypt this year, which would bring its total footprint to 650 locations.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OUTSOURCING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>US-based custo<\/strong><strong>me<\/strong><strong>r service giant <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alorica.com\/\" style=\"\" rel=\"noopener\">Alori<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.alorica.com\/\" style=\"\" rel=\"noopener\">ca<\/a><\/strong><strong> will increase its Cairo <\/strong><strong>workforce 450% by the end of 2025 <\/strong><strong>to 1.5k employees<\/strong>, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/8\/1651.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The phased expansion follows rising client demand across the travel, retail, healthcare, and tech sectors.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But why Egypt?<\/strong> \u201cCentral Cairo is quickly becoming the premier offshore CX hub, and we\u2019re proud to have established our footprint here early on,\u201d said Co-CEO Mike Clifton. Fellow Co-CEO Max Schwendner added that \u201cwe build where we see bold opportunity and lasting value \u2014 for our clients and our people\u201d and \u201cCairo offers both.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">DEFENSE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Turkey\u2019s state-owned defence and tech firm Havelsan partnered with the Arab Organization for Industrialization to <\/strong><strong>manufacture <\/strong><strong>vertical takeoff and landing UAVs <\/strong>under an agreement inked between the two, Turkish Ambassador to Egypt Salih Mutlu \u015een said in a post on <a target=\"_blank\" href=\"https:\/\/x.com\/TurkishCairoAmb\/status\/1960395454732227030\" style=\"\" rel=\"noopener\">X<\/a>. The ambassador added that the production of unmanned ground vehicles by the two had already begun.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">STARTUP WATCH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Homegrown fintech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/withpalm.ai\/\" style=\"\" rel=\"noopener\">Palm<\/a><\/strong><strong> launched its incentivized goal-based <\/strong><strong>investment platform<\/strong>, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/8\/1667.pdf\" style=\"\" rel=\"noopener\">statement (pdf)<\/a>. The move follows the company obtaining a portfolio management license from the Financial Regulatory Authority, enabling it to directly manage retail investments. This also comes shortly after the startup <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59adad7d-1734-481f-91e4-09a50d33edb9\/egyptian-fintech-startup-palm-closes-seven-figure-pre-seed-round\" style=\"\" rel=\"noopener\">closed a seven-figure pre-seed funding<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/59adad7d-1734-481f-91e4-09a50d33edb9\/egyptian-fintech-startup-palm-closes-seven-figure-pre-seed-round\" style=\"\" rel=\"noopener\">round<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWith one app, users can plan their life goals, grow their money, and spend smarter through our merchant partners. This isn\u2019t about putting money aside; it\u2019s about making every EGP work harder, cutting costs where it matters most, and turning investing into something people look forward to,\u201d CEO Mazen El Kerdany said. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>PLUS- Cabinet approved two draft petroleum exploration and exploitation agreements<\/p>\n","protected":false},"author":1,"featured_media":670937,"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":[7209],"tags":[111,1291,144,482,72,183,9271,1635,91,2053,338,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-670936","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-arab-organization-for-industrialization","tag-automotive","tag-defense","tag-enterpriseam","tag-fintech","tag-hyundai","tag-itida","tag-oil-and-gas","tag-outsourcing","tag-retail","tag-startups","wpautop","entry"],"acf":{"mongo_id":"eee08b06-ec95-4b34-918e-2f7eefbf9003","order":"9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/24.jpg","photo_position":"above","homepage_title":"","full_issue_title":"GB Auto to localize the assembly of another Hyundai model","related_issue":[670921],"teaser":"PLUS- Cabinet approved two draft petroleum exploration and exploitation agreements","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/8\/.40917b7d-25dc-48df-9f82-d90a770a2037.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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GB Auto is the sold authorized assembler and distributor of Hyundai in Egypt.","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":642093,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/06\/nissan-and-hyundai-top-the-market-in-sales-in-1h2017\/","url_meta":{"origin":670936,"position":1},"title":"Nissan and Hyundai top the market in sales in 1H2017","author":"enterpriseam admin","date":"6 August 2017","format":false,"excerpt":"Nissan led auto sales in 1H2017 with a 26% market share and 40,000 units moving into the marketplace, reports Al Mal, citing data from the Automotive Information Council (AMIC). The number represents a rise from 14.4% last year, although total number of units sold dipped from 70k last year. Hyundai\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":647768,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/gb-auto-launches-new-promotional-campaign-with-discounts-up-to-egp-17k\/","url_meta":{"origin":670936,"position":2},"title":"GB Auto launches new promotional campaign with discounts up to EGP 17k","author":"enterpriseam admin","date":"18 May 2017","format":false,"excerpt":"GB Auto kicked off a new promotional campaign on Wednesday offering discounts of EGP 10-17k on select models of its Geely, Hyundai, and Chery brands in a bid to stimulate market demand. 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Chevrolet was a close second with a 20.5%\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":652215,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/03\/gb-auto-could-be-raising-passenger-car-prices-by-up-to-egp-20000-sources\/","url_meta":{"origin":670936,"position":4},"title":"GB Auto could be raising passenger car prices by up to EGP 20,000 -sources","author":"enterpriseam admin","date":"3 January 2017","format":false,"excerpt":"Top Egyptian automotive player GB Auto is reportedly planning to raise sticker prices on its Hyundai and Geely brands (but not Mazda), according to Al Mal, citing unnamed sources as saying prices will rise between EGP 7,500 and EGP 20,000. 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