3 international automotive companies are planning to invest up to $145 million in Egypt over the next 3 years. The major companies, namely Nissan, General Motors, and Stellantis, will pump their investment into the Egyptian Auto market as per the framework agreements signed with the Egyptian Supreme Council for Automotive Industry. The companies are targeting an average annual production of about 60,000 to 70,000 vehicles. A portion of the production will be exported to attract hard currency, while a percentage will be manufactured as electric vehicles.
Source : Refinitiv
