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Egypt Today
21-05-2025
- Automotive
- Egypt Today
Egypt Accelerates Auto Industry Growth with $123M Jetour-El-Kasrawy Manufacturing Deal
CAIRO - 21 May 2025: Prime Minister Mostafa Madbouly attended the signing of a strategic agreement between international car manufacturer Jetour and Egypt's El-Kasrawy Group at the Cabinet headquarters in the New Administrative Capital. The partnership, valued at $123 million, aims to boost local manufacturing and assembly of the Jetour T1 and T2 vehicle models. Madbouly highlighted the importance of the agreement, describing it as a key milestone in Egypt's broader vision to localize automobile production. He noted that this deal is part of a series of recent agreements that underscore the effectiveness of Egypt's automotive development strategy, which continues to attract global players through competitive incentives. Chairman Mohamed El-Kasrawy confirmed that the agreement will deepen the ongoing collaboration between his group and Jetour. Beyond local assembly, both sides plan to export Jetour vehicles to several international markets, expanding Egypt's footprint in the global auto industry. As part of the agreement, a new manufacturing plant will be established in the industrial zone of 6th of October City. Spanning 86,000 square meters, the facility will house three production lines—for welding, painting, and final assembly—and will create approximately 1,500 jobs. It will serve both domestic demand and export operations. During the ceremony, El-Kasrawy also introduced the X70 Plus, the first locally assembled model under the partnership, with an annual production target of 5,000 units. Prime Minister Madbouly viewed the prototype before the official signing.
See - Sada Elbalad
21-05-2025
- Automotive
- See - Sada Elbalad
PM Witnesses Signing of $123M Deal to Locally Assemble Jetour Vehicles
Ahmed Emam Egypt's Prime Minister Mostafa Madbouly witnessed on Wednesday the signing ceremony of an agreement between global automaker Jetour and El-Kasrawy Group to enhance cooperation in manufacturing and assembling Jetour T1 and T2 models in Egypt, with total investments estimated at $123 million. The event featured appearances by the Vice Prime Minister for Industrial Development, Minister of Industry and Transport, Engineer Kamel El-Wazir. The agreement was inked by Dai Lihong, President of Jetour Auto, and Mohamed El-Kasrawy, Chairman of El-Kasrawy Group. In his remarks, Madbouly said that this agreement represents a significant and new addition to Egypt's efforts to localize the automotive industry, under which two new models from a global company will be manufactured and assembled in the Egyptian market. He noted that this agreement follows a series of similar deals signed in recent months, reaffirming that Egypt's automotive development strategy offers attractive incentives for international car manufacturers. In turn, El-Kasrawy noted that the signed agreement builds on the current partnership between El-Kasrawy Group and Jetour, with both parties agreeing to assemble the T1 and T2 models, and to expand cooperation in exporting Jetour vehicles from Egypt to several markets. He explained that both sides agreed to establish a new factory with three production lines—for welding, painting, and final assembly—at an investment cost of $123 million. The factory will be built on an area of 86,000 square meters in the industrial zone of 6th of October City. It will serve the local market, while part of the production will be allocated for export. The facility is expected to create approximately 1,500 job opportunities. El-Kasrawy also revealed the launch of the locally assembled X70 Plus model, with an annual production capacity of 5,000 units. Prime Minister Dr. Mostafa Madbouly checked out a prototype of the vehicle prior to the signing of the agreement. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
