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Thursday, 28 June 2018

It looks like this “100% Arab car” is happening, and it’s happening here

INVESTMENT WATCH- It looks like this “100% Arab car” is happening, and it’s happening here: The Arab Organization for Industrialization (AOI) has signed a cooperation agreement with the UAE’s Sandstorm Automotive to manufacturing four-wheel-drive vehicles, according to AOI head Abdelaziz Seifeldin. Under the agreement, AOI will begin assembling vehicles for Sandstorm in Egypt. No details were provided on the timeline or value of the agreement. We had first heard of the car back in December of last year, when Sandstorm said it would produce 3,000-5,000 vehicles here in an initial run, sourcing many components locally. Sandstorm “purchased glass, batteries, seats, and car horns from the Egyptian market,” MEA Manager Karim Saleh had said at the time, adding that the cars would be exported to Africa. Saleh also said that the company was in talks with Geyushi Motors, El Saba Automotive, Abou Ghali Automotive, and El Sharkawy Automotive over distribution rights and after-sale services in Egypt.

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