Vehicle production in Egypt has been decelerating for several years. The authorities are engaged in setting up a program to revive it. Several partners are also interested in the country’s automotive market.
The car manufacturer, Mercedes-Benz, wants to set up an electric vehicle factory in Egypt. The information comes from a press release from the Ministry of Trade and Industry published on Tuesday, May 3 on its website.
According to Gerd Bitterlich, President and CEO of Mercedes-Benz Egypt, the country is “a promising market in the region”. This desire of the German car manufacturer reinforces the will of the authorities to develop the automotive industry. To this end, a “national strategy for the development of the automotive industry” has been announced since 2021.
It aims to allow the country “to take a step further beyond the assembly of cars”. Cairo aims to “manufacture cars with increasing percentages of local components” and the production of “electric and hybrid vehicles”.
According to CEIC Data, automobile production in Egypt has been in constant decline between 2009 and 2020. From 92,300 vehicles in 2009 and more than 116,600 the following year, it was 23,700 in 2020.