Chinese Geely inaugurates first car manufacturing plant in Africa, MENA in Egypt
The new factory aligns with Egypt's strategic goal of becoming a regional hub for the automotive manufacturing industry.
The move is part of the national strategy for localizing the automotive industry, launched in 2022. The strategy aims to meet rising local demand for automobiles, attract global companies to invest in the Egyptian market, and boost vehicle exports.
The factory includes two production lines for "Geely" vehicles with a total capacity of up to 10,000 vehicles annually. It is expected to meet domestic demand and facilitate the exportation of approximately 30,000 vehicles from Egypt.
Madbouly stated on Tuesday that this investment reflects the confidence of foreign investors in Egypt's investment climate and the Egyptian economy's capacity to overcome challenges.
Song Jim, Chairperson of Geely Global Automobile and Vice Chairperson of Geely Auto Holding, announced that the factory will produce the Emgrand 2025 sedan and the Coolray 2025 SUV.
In his speech, Jim highlighted that the first batch of Emgrand and Coolray vehicles will be produced in Egypt based on the BMA (B-segment Modular Architecture) platform developed by Geely.
He explained that both vehicles offer efficient use of space and positive and negative safety designs, ensuring an excellent driving experience for Egyptian consumers.
Furthermore, he stated that the Coolray model, whose sales exceeded one million units globally, will be assembled locally in Egypt.
During the opening, Jim asserted that the factory is part of Geely's efforts to enhance local production of its vehicles in line with the Egyptian government's strategy to localize the automotive industry. He added that the factory boosts the national economy and creates new job opportunities.
"Our current investments in the automotive sector stand at approximately $250 million," Jim said.
He also stressed that Geely continues to expand its local operations and network in the Egyptian market.