Mansour, General Motors to manufacture electric cars

auto - December 2, 2021

ArabFinance: Al Mansour Automotive and General Motors could partner up to produce electric vehicles in Egypt under a memorandum of understanding (MoU) signed by the two companies on Wednesday, December 1st, Reuters reported.

Under the deal, the two companies will study production requirements, volumes and incentives they might need from the government, Chairman of Mansour Automotive, Mohamed Mansour said, without specifying what shape those incentives might take.

Both companies will produce a study to put to the government within the next 2-3 months.

The Egyptian government is finalizing the incentives it plans to offer the local industry under its long-delayed automotive strategy, and will announce them before the end of 2021.

'Government support of some kind, to see how we can work together. That will be a new capital investment that we make on our side, and of course hopefully using Egypt as a hub to export to Africa,' Mansour added.

It is worth noting that the government plans to build a network of 3,000 charging stations around Cairo and Alexandria over the next two years.

Mansour Automotive has been General Motors' dealer in Egypt since 1975 and has been manufacturing GM vehicles since 1983 through their joint company General Motors Egypt.

arabfinance



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