Geely Auto Expands Operations in Egypt with Ambitious Export Plans

Geely Auto Holding Group has announced its intention to export 30,000 vehicles in the near future, coinciding with the inauguration of its new factory in Egypt.

Prime Minister Mostafa Madbouly expressed optimism about the factory's role in establishing Egypt as a regional hub for Geely Auto. He emphasized that this facility will not only serve the domestic market but also cater to the Middle East and Africa, affirming the government’s full support to facilitate this vision as part of its strategy to enhance the automotive industry.

Song Jim, Vice President of Geely Auto Holding Group, shared that the company is committed to boosting production capacity at its Egyptian facility, with plans to export a significant volume of vehicles manufactured locally.

Ali Al-Ghanem, Chairman of Auto Mobility, praised the government’s efforts to attract investments, highlighting the improved business environment that encourages Arab and Chinese investors to expand their operations.

As part of Egypt’s industrial localization initiative, the government has signed seven binding agreements to produce a minimum of 250,000 vehicles annually, with an eventual target of 500,000 vehicles per year. Malaysia’s Proton aims to manufacture 50,000 vehicles annually in collaboration with Al-Azhar Group, while Itamco, GB Auto, and Abu Al-Fotouh factories are set to produce 100,000 vehicles collectively. Additionally, General Motors, Nissan, and Stellantis have committed to producing 75,000 vehicles annually.

In recent policy changes, the Egyptian government temporarily halted vehicle imports for individuals with special needs and introduced restrictions on personal vehicle imports.

According to CAPMAS, Egypt exported $21 million worth of passenger cars in the first 10 months of last year, compared to $1.785 billion worth of imports, reflecting the country's dependency on imported vehicles despite its growing production potential.