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Egypt, Hyundai to discuss car replacement initiative amid component shortages

Global producers such as GM, Ford, and Stellantis have witnessed production cuts due to shortages of semiconductor chips
20.04.21 | Source: Daily News Egypt

Egyptian Government representatives are expected to meet, this week, with Hyundai representatives to discuss the crisis affecting the South Korean company’s supply of vehicle components.

The meeting, which will feature the company’s board members along with representatives of the presidential initiative to replace old vehicles with newer ones that run on clean energy, is set to focus on the shortage in supply. It is worth noting that more than one Hyundai model is participating in the initiative.

The distributors in Egypt who are taking part in the initiative are: GB Auto, the Egypt agent for Hyundai; the Al Amal Auto Company, the local agent for Lada and Nissan; and the Al-Mansour Automotive Company, which holds the Chevrolet franchise in Egypt. 

A spokesperson for the initiative said that negotiations between the representatives from both sides will be reviewed in order to arrive at a decision.