The facility will be established in collaboration with Egypt’s state-owned El-Nasr Automotive Manufacturing Co.
The report highlighted that sales of various types of vehicles, including private cars, buses, and trucks reached a total of 10,415 vehicles.
“We are trying to overcome any obstacles or challenges facing Egyptians abroad participating in this initiative,” the minister concluded.
Japanese car parts supplier Yazaki has announced commencing the construction of its manufacturing facility in Egypt, with an investment of $32.49m.
Egypt's zero-customs car import initiative is projected to generate $2 billion, based on the high demand witnessed in the first and second phases.
The Egyptian Cabinet has approved the extension of the zero-customs car import initiative for expats for an additional three-month period.
Raya Auto will bring XPeng’s P7i, G6, and G9 models to the market during the first half of the year — importing and distributing the cars.
Auto Mobility will localize the assembly of Geely cars in Egypt,developing points of sales, and exporting to African and Middle Eastern markets.
Egypt's zero-customs car import initiative has seen an influx in demand in the first two months of its second phase.
According to the car data that the user registers through the application, "FriendyM" sends notifications to remind you of the car’s maintenance.
Walid El Ghandour mentioned that Egyptians abroad can use this service to buy their cars and send them to Egypt with simple steps.
Electric vehicles are no longer a distant dream for Egypt, as the nation gears up to launch its first electric car, the Nasr e70.
Cairo: Supply of automotive spare parts under two contracts
Other investors that participated in the round include Dutch Founders Fund, Aditum Ventures, LoftyInc Capital and other local and global investors.
The company held a launching event of its mid-sized SUV in Cairo, aiming to expand the African market.
Global Auto Group (GAG), the agent and importer for BMW and Mini in Egypt, has signed a binding framework agreement with the Madbouly government.
MSMEDA contributed to converting 59,000 cars, which represented about 40 percent of the cars converted in Egypt.
Vehiclevo’s is one of the leading tier 1 suppliers of software and automotive technology serving the world's largest automotive manufacturers.
Strategic partnerships, investments, and a focus on eco-friendly technologies are placing Egypt at the forefront of Africa's automotive market.
Egyptian state entities signed an agreement with German automobile manufacturer Volkswagen to conduct a feasibility study for East PortSaid Zone.