Stellantis wants to build 50k cars a year here
Automobile manufacturer Stellantis Egypt wants to locally produce 50k cars a year, Managing Director Hesham Hosny said at an industry conference this week (watch, runtime: 44:33). “We plan to have the Middle East and Africa produce 70% of its own automotive needs,” he said. Stellantis is one of the largest car manufacturers in the world and was formed in 2021 following a merger of Fiat Chrysler and PSA. Its brands include Jeep, Peugeot, Fiat, Citroen and Chrysler.
Keeping up the EV momentum: Stellantis is waiting on the details of incentives laid out in the government’s automotive strategy to move forward with plans to locally manufacture electric vehicles in Egypt, Hosny said. He didn’t specify whether the 50k target includes EVs. Earlier this year Stellantis held talks with Prime Minister Moustafa Madbouly to express its interest in taking advantage of the coming industry incentives to establish an EV factory for the local market and exports.
The Madbouly gov’t wants more locally made cars: The government is working to launch its long-awaited automotive strategy, the Egyptian Automotive Industry Development Program (AIDP). The strategy will provide incentives to carmakers in a bid to increase local assembly and component manufacturing here, up the sector’s competitiveness to become a regional manufacturing hub, and bolster export volumes.
Others in the auto industry are keeping a close eye on the strategy: GB Auto is waiting for the government to formally launch AIDP before it starts working on its export plans, Chief Manufacturing Officer Ramez Adeeb said at the event. The company’s Sadat City passenger car factory will assemble 60k cars a year, Adeeb said.