Latest news with #6thOfOctober
Zawya
26-05-2025
- Automotive
- Zawya
Egypt accelerates automotive manufacturing with new investments
Egypt's automotive landscape improved significantly in 2025, with several global car brands entering the local manufacturing scene through their Egyptian partners. This came in response to a more attractive investment climate and a range of government incentives designed to support and localize the automotive industry. In this Factsheet we will discover the state's ambitious plan to boost its local automotive industry, highlighting the most recent automotive investments in the country. We will also give some insights into the manufacturing, sales, and imports of vehicles in Egypt. Egypt's National Automotive Industry Strategy 2024–2030 aims to meet the growing local demand while generating new revenue streams from exports. The strategy sets ambitious targets, including an annual production volume of 400,000 to 500,000 vehicles, with 25% of that output intended for export. This would translate into an estimated $4 billion in annual export revenues. Recent investment announcements reflect the sector's growing momentum. In May 2025, Jetour, in partnership with El Kasrawy Group, committed $123 million to establish an assembly facility in the 6th of October Industrial Zone. Earlier in January, Geely Global launched its first factory in the MENA region in Egypt. By the end of 2024, SAIC Motor, in cooperation with Mansour Group, announced a major investment of $135 million to produce MG vehicles. In its report, BMI projected Egypt's production of vehicles to reach 37,000, placing the country second in the region, surpassing Algeria, expected to produce 17,400 vehicles. However, it trails far behind Morocco, which came in first place with an expected production of 614,000 vehicles. BMI also expected that Egypt's vehicle production will grow at an average annual rate of 11.4% between 2024 and 2033, reaching just under 83,5000 vehicles by the end of the forecast period. In 2024, automotive sales in Egypt increased by 13.16% year-over-year (YoY) to 102,200 units. This included 81,400 passenger cars, 13,300 trucks, and 7,300 buses. As for passenger cars, the sales grew 18% YoY in 2024. The top-selling brands were Nissan, Chery, Chevrolet, Hyundai, and Toyota with market share of 15.9%, 13.4%, 12.2%, 11.4%, and 9.2%, respectively. In 2024, Egypt imported vehicles worth $2.61 billion, mainly from Germany with $622.1 million, China with $595.8 million, and South Korea with $310.8 million. The number of licensed vehicles in 2024 increased by 4.7% YoY to 10.4 million, including 5.7 million passenger cars, 1.3 million trucks, and 174,600 buses. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Automotive
- Zawya
Kasrawy, Jetour to establish $123mln factory to assemble Jetour models in Egypt
Arab Finance: Automakers Kasrawy Group and Jetour inked an agreement to develop a new factory to locally assemble the Jetour T1 and T2 models, with an investment of $123 million, according to a statement. Prime Minister Mostafa Madbouly stated that the joint deal marks a significant move forward in the localization of the automotive industry in Egypt. To be established on an area of 86,000 square meters in the 6th of October Industrial Zone, the new factory will include three production lines for welding, painting, and final assembly. Its production will cover the local market's needs, with a portion allocated for export. The factory will offer around 1,500 job opportunities. On his part, Mohamed El Kasrawy, Chairman of Kasrawy Group, announced the launch of the locally-assembled X70 Plus Jetour model, with an annual production capacity of 5,000 vehicles. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
