Avatr signs distribution agreement in Egypt
Kasrawy Group, established some 40 years ago, is one of Egypt's leading automotive companies, with distribution and sales operations for a number of major overseas brands including Toyota, Nissan, Kia, Renault, Citroën, JAC, and AITO, as well as representing Audi and Jaguar Land Rover. The group accounted for an estimated 20% of the Egyptian vehicle market last year, according to reports.
The deal with Kasrawy marks Avatr's entry into the African automotive market, as part of its ambitious overseas expansion strategy. Parent company Changan Automobile already has a presence in the country and is currently building a local assembly plant near Cairo.
Avatr, which has Chinese battery manufacturer CATL and technology company Huawei as its strategic partners, recently launched sales operations in the United Arab Emirates, Qatar, and Jordan, and is expected to sign further distribution deals in the Middle East and Africa in the next six months.
The company plans to establish sales outlets and officially launch the brand in Egypt within the next three months.
Avatr has four battery-powered models on the market at present, the 06, 07, 011 and its flagship 012, powered by CATL batteries and featuring Huawei's intelligent systems. The company has approximately 700 outlets in 200 cities in China and is present in 25 overseas markets, with a total of 55 sales outlets. It plans to have a presence in 50 overseas markets by the end of 2025 and enter Europe in 2026.
"Avatr signs distribution agreement in Egypt" was originally created and published by Just Auto, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
28 minutes ago
- Business Insider
Canadian miner shifts focus to Zambia with $2 billion investment deal amid Mali tensions
Canadian mining giant Barrick Gold Corporation is ramping up its investment in Zambia with a $2 billion expansion plan, a move seen as a strategic pivot amid escalating tensions with Mali's military-led government. Barrick Gold Corporation is investing $2 billion in expanding the Lumwana copper mine in Zambia to enhance production capabilities. The emphasis on Zambia comes amidst Barrick's ongoing legal disputes with the Mali government concerning mining agreements. The expansion includes doubling copper output and introducing new infrastructure like a high-capacity processing plant and energy supply lines. Canadian multinational, Barrick Gold Corporation is pressing ahead with its $2-billion expansion of the Lumwana copper mine in Zambia, positioning the southern African nation's status as a global copper hub and deepening local industrial capacity. The expansion, already under way, aims to double annual copper output at Lumwana to 240,000 tonnes, using a new processing plant that can handle 50 million tonnes of ore annually. The project also includes new electricity lines being built with Zambia's national power company, ZESCO. Speaking during a visit to Lusaka, the country's capital city, Barrick Gold's CEO, Mark Bristow, said the mine's transformation signals not just operational progress, but a long-term commitment to Zambia's economic future. ' When we reviewed the Lumwana mine in 2019, it was high-cost and underperforming. Today, it's a growing force in African copper.' He said ' With this expansion gaining momentum, Lumwana is on course to join the world's list of large and strategically important copper mines, and a powerful driver of growth for both Zambia and Barrick,' Bristow said during a recent visit to Lusaka.' He added. Since taking over Lumwana, Barrick has contributed over $4 billion to the Zambian economy through taxes, wages, and local business contracts. In just the first quarter of 2025, 81% of the mine's spending, about $177 million went to Zambian suppliers. Nearly all the mine's 12,000 workers are Zambian, and almost half come from nearby communities. The company is also building new facilities, including the Manyama township, a training centre to help Zambians gain mining and technical skills, and a regional airstrip. These projects support Zambia's long-term mining development plans under the Mining and Minerals 2031 policy. Environmental sustainability is also central to the Canadian mining giant's strategy. The company is reportedly working with local leaders and Zambia's Forestry Department on a large forest protection project that will cover up to 300,000 hectares. The aim is to protect the environment, support local livelihoods, and create carbon credits i n the future. 'Lumwana is becoming a flagship for sustainable copper mining. It demonstrates how a world-class mine can help build an industrial ecosystem while protecting the environment and expanding economic opportunity, ' Bristow said. Mali targets Barrick in mining row Barrick Gold's dispute with Mali began after the country's 2023 mining code granted the state up to a 50% stake in projects and sought to apply the new terms retroactively. Barrick rejected this, calling it a breach of existing agreements tied to its Loulo–Gounkoto mine. Tensions escalated when the junta appointed a provisional administrator and seized one tonne of gold—worth about $107 million—by military helicopter, following earlier seizures and export blocks. Barrick has since launched international arbitration, accusing Mali of violating investment treaties in a case that underscores rising resource nationalism across military-led African states. Barrick Gold's investment in Zambia underlines Africa's growing importance in the global energy transition as copper becomes increasingly vital for electric vehicles and green technologies. With no major environmental incidents reported and strong quarterly performance, Lumwana is not only expanding production but also strengthening its legacy across Zambia and Africa.
The Hill
33 minutes ago
- The Hill
Elon Musk is no Ross Perot
The comparisons flood in. Elon Musk launches his 'America Party,' and every pundit reaches for the same tired parallel. Another Ross Perot. Another billionaire maverick. Another third-party earthquake waiting to happen. Wrong. Completely wrong. Musk represents everything Perot opposed. Where Perot stood for fiscal discipline, Musk embodies corporate welfare. Where Perot championed American manufacturing, Musk built his fortune on government funding and Chinese batteries. Where Perot offered genuine outsider credentials, Musk carries the stench of establishment cronyism. The surface similarities deceive. Both men possess massive wealth. Both nurse grudges against sitting presidents. Both promise to shake up the system. The differences run deeper than the Delaware River. Perot emerged from genuine business success. He built Electronic Data Systems from nothing. He created real value, real jobs, real innovation. His wealth came from solving actual problems, not gaming government handouts. Musk built his empire on taxpayer subsidies. Tesla survived on government credits. SpaceX feeds off NASA contracts. His companies consume public money like a Vegas slot machine consumes quarters. He represents the opposite of Perot's self-made independence. The timing exposes another crucial difference. Perot entered politics during America's economic malaise. Recession gripped the nation. Deficits soared. Voters craved fiscal responsibility. His message matched the moment. Musk launches his party during economic recovery. Stock markets reach record highs. Unemployment stays low. His fiscal responsibility message lands like a lead balloon in a helium factory. More importantly, Perot possessed something Musk lacks entirely: credibility on his core issue. When Perot talked about budget deficits, people listened. He had never taken government handouts. He understood business efficiency. He could legitimately claim outsider status. Musk talking about government waste sounds like a meth addict lecturing about sobriety. His companies gorged themselves on federal subsidies for decades. He personally benefited from programs he now claims to oppose. The hypocrisy stinks from orbit. The political landscape has also shifted dramatically since 1992. Perot faced two establishment candidates, the president, George H.W. Bush and his Democratic challenger Bill Clinton. Voters hungered for alternatives. The third-party lane stretched wide and inviting. Today's political map offers no such opening. Trump already occupies the anti-establishment space. He owns the outsider brand, despite being president. Musk cannot out-populist the master populist. The media environment has transformed beyond recognition. In 1992, Perot could command television attention through sheer novelty. Cable news was young. Social media did not exist. A billionaire buying airtime could reach millions of uncommitted voters. Now everyone screams into the digital void. Attention spans shrink by the nanosecond. Musk's X antics already overexpose him. His brand suffers from overexposure, not invisibility. Perot also offered policy substance beneath the theatrics. His deficit charts bored audiences, yet they conveyed serious proposals. He understood complex economic issues. His solutions made mathematical sense, even if they were politically unrealistic. Musk offers conspiracy theories and vanity projects. His policy knowledge barely scratches the surface. He confuses tweeting with governing. He mistakes social media engagement for political support. The coalition mathematics doom Musk from the start. Perot drew votes from both parties roughly equally. His appeal crossed traditional lines. Fiscal conservatives and government skeptics existed in both camps. Musk's potential supporters cluster overwhelmingly on the right. He cannot build a truly bipartisan coalition. Democratic voters despise him. His only hope lies in cannibalizing Republican support. This creates a fatal strategic problem. Every vote Musk gains likely comes from Trump's column. He cannot expand the anti-establishment coalition because he lacks cross-party appeal. He can only divide it. The structural barriers have hardened since Perot's time. Ballot access requirements have increased. Campaign finance laws favor established parties. The debate commission now excludes third parties more effectively. Perot qualified for the presidential debates in 1992. Those appearances legitimized his candidacy. Current rules make such inclusion nearly impossible. Without debate access, third parties wither in obscurity. The fundamental character differences matter most. Perot, for all his quirks, projected competence. He ran a disciplined campaign. He stayed on message. He treated politics seriously. Musk treats everything as a game. He changes positions hourly. He picks fights on social media. He lacks the temperament for sustained political combat. Perot understood American voters. He spoke their language. He shared their concerns. He offered real solutions to real problems. Musk lives in a Silicon Valley bubble. He mistakes X for reality. He confuses online engagement with electoral support. He fundamentally misunderstands the American electorate. The comparison insults Perot's legacy. He may have been eccentric, demanding and difficult, but he changed American politics permanently. He forced both parties to address fiscal responsibility. He proved that third parties could compete. Musk offers nothing comparable — no serious policy agenda, no coherent vision, no sustainable coalition. His proposed new party is just another billionaire's vanity project disguised as political reform. The America Party will follow the same trajectory as Musk's other attention-grabbing schemes — media frenzy, gradual reality, ultimate failure. John Mac Ghlionn is a writer and researcher who explores culture, society and the impact of technology on daily life.
New York Post
an hour ago
- New York Post
Seaport Entertainment mulling offers for 250 Water St. vacant lot
All summer eyes are on Seaport Entertainment Group, which is mulling offers for its valuable 1.1-acre vacant lot at 250 Water St., even as it grapples with losses at the Seaport's Tin Building. After Howard Hughes Corp. spun off SEG last summer, it wasn't clear what the new owners would do with 250 Water St., a short stroll from the Seaport's busy Pier 17, where HHC spent years planning and winning city approvals for a new, mixed-use project. 3 A rendering of the proposed Seaport Tower at 250 Water St. Skidmore, Owings & Merrill 3 Original design of 250 Water Street featured two tall towers on a podium base. Howard Hughes Corporation/SOM We predicted in January that SEG, which is not in the development business, would put the site up for sale. Two months later, they tapped JLL to sift offers, Crains reported. Seaport CEO Anton Nikodemus said in a conference call that more than 130 'potential buyers or partners' expressed interest. Now, sources told Realty Check, they've winnowed the list down to three or four, but no names have yet emerged. SEG didn't respond to multiple requests for comment. Meanwhile, SEG just took what it called an 'administrative step' to 'complete the process' of a plan it announced in January to 'internalize food and beverage operations at many of our wholly-owned and joint venture-owned restaurants.' The publicly traded company announced on June 30 it 'terminated' the Tin Building management agreement with Jean-Georges Vongerichten's Creative Culinary Management Company. 3 Chef Jean-Georges Vongerichten. Tamara Beckwith Vongerichten Management CEO Lois Freedman explained to us, 'What was more a management agreement now is a licensing agreement.' SEG earlier said it took a $33 million loss on the Tin Building in 2024. Although a small section was closed off, it remains open and its House of the Red Pearl restaurant remains a hot Chinese destination.
