Cairo, Egypt - Geely Auto Group has officially opened a new manufacturing facility in Egypt, marking a significant step towards the country's goal of becoming a regional leader in automotive production. The factory, with an annual capacity of up to 10,000 vehicles, will produce the Emgrand 2025 sedan and the Coolray 2025 SUV, catering to both domestic demand and export markets.
This investment aligns with Egypt's 2022 national strategy to localize the automotive industry, aiming to increase local production, attract foreign investment, and enhance vehicle exports. Prime Minister Mostafa Madbouly emphasized the confidence foreign investors have placed in Egypt's economic climate and its ability to overcome challenges.
"This factory reflects the confidence of foreign investors in Egypt's investment climate and the Egyptian economy's capacity to overcome challenges," Madbouly stated on Tuesday.
Song Jim, Chairperson of Geely Global Automobile and Vice Chairperson of Geely Auto Holding, highlighted that the factory will utilize Geely's BMA (B-segment Modular Architecture) platform, offering efficient space utilization and advanced safety features. The Coolray model, with over a million units sold globally, will be assembled locally in Egypt.
Jim emphasized that the factory aligns with Geely's commitment to local production and contributes to Egypt's economic growth and job creation. "Our current investments in the automotive sector stand at approximately $250 million," he stated.
Geely has already established a strong presence in Egypt with over 40 sales and service centers across the country. The company has also achieved a local content rate exceeding 45% by developing 14 major components locally, with plans to further increase local production.
This marks Geely's first CKD (Completely Knocked Down) factory in Africa and the Middle East, underscoring the significance of this venture for both companies and the Egyptian automotive industry.
Fahad Ali Al Ghanim, Chairperson of Auto Mobility, expressed gratitude to the Egyptian government for its support in improving the investment climate. He emphasized the need for continued government support to facilitate the export of Geely vehicles from Egypt to global markets.
In response, Prime Minister Madbouly reaffirmed the government's commitment to supporting the automotive sector and highlighted previous incentives to boost investments in this area.
About Geely Auto Group:
Headquartered in Hangzhou, China, Geely Auto Group is a leading automobile manufacturer founded in 1997. The group oversees a portfolio of renowned brands, including Geely Auto, Lynk & Co, Proton Cars, and Geometry.
This news article provides a concise and informative overview of the opening of Geely's new factory in Egypt, highlighting its significance for both the Egyptian and Chinese automotive industries.
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