Zotye Auto, Changhe Automobile to begin locally assembling cars in 2019
Zotye Auto, Changhe Automobile cars to be assembled locally in 2019: China’s Zotye Auto’s local agent, IFG Group, is planning to build an auto assembly plant in 6 October City by 2019, Chairman Mohamed Farag tells Al Mal. The new factory will produce 4,600 cars a year when operations start. No details on the investment value were provided. Meanwhile, Changhe Automobile’s local agent, Boudy Group, also said it was reviewing offers from ِAboul Fotouh Automotive and the Egyptian German Automotive Company to begin locally assembling Changhe Q7 next year, Chairman Osama Boudy tells Al Mal. The company is expecting to assemble 1,000 cars a year at an initial investment cost of EGP 100 mn.