CAIRO - 4 December 2024: The Egyptian Cabinet has approved a proposed vision from the Ministry of Investment and Foreign Trade to regulate the country's automotive market by 2025.
This initiative aims to attract local market investments and ensure a balanced, competitive industry.
The plan focuses on providing vehicles that meet standard specifications, ensuring authorized service centers offer spare parts, promoting fair competition, maintaining price stability, protecting intellectual property rights, and eliminating market distortions.
On Wednesday, Prime Minister Mostafa Madbouly witnessed the signing of an investment agreement by Nissan Egypt to locally manufacture a third vehicle model, with over 54% of its components sourced locally.
The company has allocated $45 million for the project and an additional $2 million to increase its annual production capacity to over 30,000 cars by 2025.
This expansion marks Nissan’s 20th anniversary in Egypt and aims to boost exports, with over 16,000 units of its Sunny model already exported. Nissan Egypt has generated more than $150 million in export revenue and plans to increase exports by nearly 50% in 2024.
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