Mansour Auto, GM working planning to manufacture electric vehicles in Egypt

Mansour Automotive Company and the US multinational automotive giant General Motors (GM) agreed to study joint manufacturing of electric vehicles in Egypt, as the Egyptian government intends to pay incentives to push forward the localisation of the automotive industry.

A memorandum of understanding (MoU) was inked on Wednesday, whereby the two companies agreed to assess production requirements, sales volumes, Al-Mansour Automotive Chairman Mohamed Mansour told Reuter on Wednesday.

The step also includes conducting a study on the incentives that might be needed from Egyptian the government, Mansour added, with explaining further.

"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 further said.

Al-Mansour Company and GM are expected to produce a study to be presented to the Egyptian government within the next 2-3 months, he noted.