Ahmad 
Egyptian Prime Minister Dr. Mostafa Madbouly announced progress in plans to localize the automotive industry in Egypt, and there is a plan to launch the production of six new car models by 2027.
The Prime Minister stressed the strategic importance of this approach, explaining that localizing the automotive industry would reduce the import bill that used to cost the public treasury about $5.5 billion annually.
He added that the goal is to transform Egypt from an import center to an export hub, which would enhance its position in global markets.
In a related context, Madbouly met with officials from the Mansour Automotive Group, where they discussed expansion plans aimed at enhancing local production and increasing the share of exports. The group’s CEO, Ankush Arora, stressed their commitment to benefit from government incentives for investors, and directing a large portion of production towards foreign markets, especially European ones.
The meeting also touched on the topic of electric cars and environmentally friendly cars, where Arora reviewed the group’s plans to enhance these sectors within the Egyptian market and expand the scope of exports to include the Arabian Gulf and Africa.
For his part, the Prime Minister praised the proposals submitted and directed to study the possibility of implementing them, indicating the government’s continued support for the growth and prosperity of the local automobile industry.
It is worth noting that the automobile industry in Egypt dates back to the sixties. In 1960, Egypt launched the “Nasr Automotive Manufacturing Company”, which was the first company to assemble and manufacture cars in the country. The company assembled cars in cooperation with international companies, including the Italian “Fiat”, as it assembled and manufactured some of its models in Egypt.
Analysis – “Last Chance Conversation”: Blair – Gaddafi and the present of Libya