The Prime Minister meets company officials "Stellantis Automotive" To review their proposals for future expansions
The company has developed a plan to localize local manufacturing in Egypt by investing in 4 different new models
A meeting was held by Dr. Mostafa Madbouly, Prime Minister, today, at the Council of Ministers headquarters. In the New Administrative Capital, a meeting with officials of the “Citlantis Automotive” group; To review a number of proposals about the company’s future expansions in Egypt, in the presence of Lieutenant General Engineer Kamel Al-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, Hisham Hosni, Executive Director of Stellantis, Ayman Sayed, Director of Stellantis Factory Operations, and Engineer Mohamed Shaltout, Director. The project technician, engineer Mona Qutb, Vice President of the General Authority for Transport Projects Planning, Jumaa Madani, Head of the Automotive Industry Unit at the Ministry of Investment and Foreign Trade, Dr. Nermin Abu Al-Atta, Advisor to the Minister of Industry for Sustainable Development, and Dr. Amani Al-Wasal, Head of the Agreements and Foreign Trade Sector, Fund Manager. Export development.
At the beginning of the meeting, the Prime Minister indicated that the aim of the meeting is to learn about your plans to expand car manufacturing in Egypt, in addition to your existing projects in Egypt. Currently in partnership with the Arab Organization for Industrialization.
Dr. Mostafa Madbouly said: We pay close attention to this industry, and therefore I am keen to follow up on this file, in support of the efforts made by the Vice President The Council of Ministers for Industrial Development, and other work teams.
During the meeting, Hisham Hosni, CEO of Stellantis, indicated that the company is keen to follow up on implementing its existing plans in cooperation with… The Arab Organization for Industrialization is working to expand in the Egyptian market, especially in light of the incentives provided by the Egyptian government to investors.
Hisham Hosni confirmed that Stellantis It developed a plan to localize local manufacturing in Egypt by investing in 4 different new models, and presenting them over 3 consecutive years, with a total investment of more than 116 million euros, in addition to a manufacturing project with a local partner for a three-wheel electric vehicle product, with the aim of contributing to meeting the needs of the local market. And export to other markets.
In this regard, the CEO of Stellantis indicated that the company’s plan to deepen the localization of the local component in the company’s products will take place in three main stages, starting with a 45% local component in 2025. Reaching 52% by 2028.
During the meeting, Hisham Hosny gave a detailed presentation of Stellantis’ efforts and its future plans to localize the local component in that industry. In addition to the group’s plans to manufacture environmentally friendly cars that comply with environmental standards in this regard, he also presented some proposals that contribute to supporting the company’s projects and plans for expansion in Egypt.
