Ashraf AboArafe
* Madbouly expresses his appreciation for this fruitful partnership that resulted in a significant investment to establish a car production plant in Egypt with a local component ratio of more than 45%
* Company officials: A future plan to increase production capacity to 100,000 cars..and start production in 2026
* The company has future plans to manufacture four-wheel drive vehicles and environmentally friendly electric cars in Egypt
* “Mansour” thanks the Prime Minister for his continuous support and keenness to localize the car industry in Egypt
Dr. Mostafa Madbouly, Prime Minister, held a meeting this evening at the government headquarters in the New Administrative Capital with officials from “Al-Mansour Automotive Group” and the Chinese company “SAIC Motor”, owner of the MG brand; To review the new Egyptian-Chinese partnership project for establishing a new car manufacturing plant in Egypt with investments of $135 million, and the timetable for starting production, in the presence of Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, Engineer Sayed Metwally, Chairman of the General Authority for Land and Dry Ports, Sir Mohamed Mansour, Chairman of the Board of Directors of “Al-Mansour Automotive Group”, who participated via “video conference”, Mr. Yassin Mansour, Member of the Board of Directors of “Al-Mansour Automotive Group”, Mr. Ankush Arora, CEO of Al-Mansour Automotive Group, Mr. Aimin Zhao, Vice President of the Chinese company “SAIC Motor”, and a number of officials from “Al-Mansour Automotive Group” and the Chinese company “SAIC Motor”. At the beginning of the meeting, the Prime Minister welcomed the attendees from the officials of “Al-Mansour Automotive Group” and the Chinese company “SAIC Motor”, the parent company that owns “MG Motor”, at the Cabinet headquarters in the New Administrative Capital, expressing his appreciation for this fruitful partnership between the Egyptian and Chinese companies, which resulted in an important investment represented in starting the establishment of a car production plant in Egypt with a local component percentage exceeding 45%.
Dr. Mostafa Madbouly also welcomed Sir/ Mohamed Mansour, Chairman of the Board of Directors of “Al-Mansour Automotive Group”, who participated in the meeting via “video conference” technology, expressing his happiness with this important participation.
He stressed that the Egyptian government adopts clear policies to support the localization of the automotive industry, and is keen in this context to provide possible incentives to its local and international partners.
The Prime Minister added: We are keen to support any future expansions of this important partnership, which contributes to increasing its production share in the Egyptian market.
In turn, Sir Mohamed Mansour, Chairman of Al-Mansour Automotive Group, said that this day is an important and historic day for the future of the strategic partnership between Al-Mansour Automotive Group and the Chinese company SAIC Motor, since 2018, as the two partners will start local manufacturing and assembly for the first time by establishing a new factory to manufacture the low-cost MG5 sedan with investments estimated at $135 million.
Mansour reviewed the development of the partnership between the group and the Chinese company SAIC Motor, which began selling the MG car in Egypt, reaching the manufacturing and assembly stage that will start during the coming period.
The Chairman of Al-Mansour Automotive Group indicated that the company has future plans to manufacture four-wheel drive vehicles and environmentally friendly electric cars in Egypt.
Sir Mohamed Mansour thanked the Prime Minister for his continuous support and keenness to localize the automotive industry in Egypt. He also thanked Lieutenant General Engineer Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, and Engineer Hassan El-Khatib, Minister of Investment and Foreign Trade, for their remarkable efforts in facilitating the procedures for obtaining the land and necessary licenses and their diligent follow-up to expedite the implementation of everything related to the project.
Mansour concluded his speech by saying: “We are committed with the Chinese partner to provide the best products that suit the consumer in the local market with international standards, stressing that the company’s new factory will be one of the best car factories in Egypt, Africa and the Middle East.”
In turn, Mr. Amin Zhao, Vice President of the Chinese company “SAIC Motor”, expressed his thanks and appreciation to the Prime Minister for his keenness to attend this historic occasion of signing the agreements to start manufacturing between “Al-Mansour Automotive Group” and the Chinese company “SAIC Motor”.
Zhao praised the depth of strategic relations between Egypt and China, pointing out that there are great and important opportunities for partnership between the two countries in various countries.
The Vice President of the Chinese company “SAIC Motor” reviewed the company’s capabilities in terms of owning the largest research and development centers in the field of cars around the world, and the presence of its products in many markets around the world.
“Zhao” pointed out that the partnership between “SAIC Motor” and “Al-Mansour Automotive Group” began in 2018, and since that date the two parties have pledged to achieve a strong start in the Egyptian market, and this partnership has indeed succeeded in increasing the market share of MG cars in car sales in the Egyptian market, extending his thanks in this regard to Sir / Mohamed Mansour, Chairman of the Board of Directors of “Al-Mansour Automotive Group” and all the work team in the group who achieved remarkable success despite all the challenges we faced over the past years, starting with the repercussions of the “Corona” pandemic, then global geopolitical fluctuations, and their consequences on the markets.
The Vice President of the Chinese company “SAIC Motor” explained that under the exclusive technical licensing agreement signed.today, MG5 cars will be manufactured in Egypt, with a future expansion plan to manufacture SUVs and electric cars.
During the meeting, Mr. Ankush Arora, CEO of Mansour Automotive Group, explained that the new factory will be established in New October City on an area of 126 thousand square meters, noting that the factory will be established within 18 months, during which equipment will be installed and trial operation will take place, and the construction process will take 12 months.
He added that the factory’s production capacity is 50 thousand cars, with a future plan to increase it to 100 thousand cars, with production starting from the factory in the third quarter of 2026.
