Sat. Jul 20th, 2024

The Algerian government announced its cooperation with the Chinese companies “Chery”, “Geely” and “Jack” to establish factories that produce cars locally.

These agreements come in light of Algeria’s attempts to revitalize national industries and face the challenges of high prices and lack of supply in the market.

Official data show that annual demand for cars in Algeria is between 250,000 and 350,000 units, reflecting the urgent need to boost domestic production.

In this context, 30 companies applied to set up car factories in Algeria, including Asian and European brands that have obtained licenses to assemble cars.

Algeria plans to raise the proportion of automotive parts manufacturing locally to 35% by 2026, and to gradually increase this percentage, noting that the Italian company “Fiat” entered the stage of local production by the end of 2023, with a production capacity of 50,000 cars of 4 models.

Algeria is an attractive investment destination, with the availability of energy at low prices and the exploitation of huge iron mines, which provides a significant competitive advantage in the global market.

Algerian efforts to sustain growth and Tebboune pledging to reduce inflation

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