Back to the complete issue
Tuesday, 27 March 2018

Kayan could begin assembling SEAT in Egypt by 2020

Kayan Egypt could begin assembling SEAT cars locally by 2020, CEO Karim El Naggar tells Al Mal. The company has recently reached an agreement with the Spanish automaker and is in “serious negotiations” to see SEAT models assembled by Bavarian Auto, Arab American Vehicles Co., and Egyptian German Automotives, El Naggar said adding that he expects local assembly to drive SEAT car prices down by 25-30%. El Naggar had said last year that the decision to assemble SEAT locally depends entirely on the issuance of the Automotive Directive. The bill — which will offer incentives to encourage the local auto industry to move further up the value chain into manufacturing — has had European car makers, including Renault and Volkswagen, shopping for potential industrial opportunities in Egypt at the same time as they pressure their lobbyists to have the Egyptian government kill the bill. Kayan has, meanwhile, won distribution rights for SEAT in Libya and Sudan.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.