Latest news with #MokhtarAbdelLatif
Egypt Today
12 hours ago
- Automotive
- Egypt Today
Egypt to Exclusively Produce New Stellantis Car Model by 2026 under AOI Leadership
Egypt is moving forward with plans to locally manufacture a brand-new car model in partnership with French automotive giant Stellantis, with production expected to commence by the end of 2026. The Arab Organization for Industrialization (AOI) will oversee the project, with a total production target of 240,000 vehicles, as confirmed by the Egyptian Presidency. The announcement followed a meeting between President Abdel Fattah El-Sisi and AOI Chairman Mokhtar Abdel Latif, where they reviewed the organization's key industrial activities and the performance of its subsidiaries. President El-Sisi emphasized the importance of reinforcing collaboration with private sector partners—both domestic and international—as part of Egypt's broader strategy to localize the automotive industry, increase local component integration, and grow exports of domestically manufactured products. Notably, the upcoming car model will be produced exclusively at AOI's manufacturing facilities in Egypt and will not be built at any other Stellantis site globally. The AOI is already producing the Citroën C4X locally in cooperation with Stellantis and the Arab American Vehicles Company (AAV), achieving a 45% local content rate. Initial prototypes were completed in March 2025, with plans to produce 7,000 units annually over four years, totaling 28,000 vehicles. According to AOI Chairman Mokhtar Abdel Latif, the organization is executing a comprehensive strategy aimed at expanding local manufacturing capabilities, increasing exports, and enhancing technological advancement across its factories. Central to this strategy is fostering public-private partnerships by leveraging AOI's cutting-edge industrial infrastructure.
Zawya
13 hours ago
- Automotive
- Zawya
President El-Sisi Meets Chairman of Arab Organization for Industrialization (AOI) Board of Directors
Today, President Abdel Fattah El-Sisi met with Chairman of the Board of Directors of the Arab Organization for Industrialization (AOI) Major General Mokhtar Abdel Latif. Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President was briefed on the activities and projects undertaken by factories and companies affiliated with the Arab Organization for Industrialization across various fields. Major General Abdel Latif noted that the AOI operates according to a comprehensive strategy aimed at deepening local manufacturing, increasing export rates, and enhancing the industrial and technological capabilities of its factories. This is in addition to cooperating with the private sector to establish joint projects, leveraging the AOI's advanced industrial capabilities. President El-Sisi affirmed the AOI's significant role in various sectors, particularly with regard to the improvement of local manufacturing ratios, the localization of industry, and the increase of exports, which contributes to reducing the import bill and providing foreign currency, thereby supporting the national economy. President El-Sisi was also updated on the existing frameworks of cooperation between the AOI and several major international companies operating in the automotive industry. The President inspected a number of "Citroën C4X" models, which are locally manufactured with a 45% component ratio in the factories of the Arab Organization for Industrialization, in partnership with the Arab American Vehicles Company (AAV) and the French "Stellantis" Group. AOI Chairman, Major General Abdel Latif, said planning for the production of this model began in August 2023, adding that technical and logistical preparations were undertaken, leading to the production of initial prototypes in March 2025. He noted that approximately 7,000 cars are scheduled for annual production over four years, totaling 28,000 vehicles. Furthermore, preparations are underway for the production of a new car in cooperation with the "Stellantis" Group, with production set to begin in late 2026. This new model will see a total of 240,000 cars manufactured exclusively in AOI factories, and will not be manufactured in any of the Group's other global facilities. President El-Sisi gave directives to further strengthen cooperation with private sector companies, both locally and internationally. This is in alignment with the state's strategy aimed at localizing the automotive industry, increasing the percentage of local components, and maximizing exports of products manufactured in Egypt. Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
