EIM to invest $100m in Egypt automotive plant

The Egyptian International Motors (EIM) announced plans to invest $100 million in establishing an automotive plant in Egypt. The project will export 105,000 vehicles over the next five years and create 2,000 jobs, aiming to establish the country as a regional hub for vehicle manufacturing and exports.

During a meeting between Prime Minister Mostafa Madbouly and EIM officials, the company reviewed its efforts to localise the automotive industry, aiming to achieve 48 per cent local components and increase this to 58 per cent within the first year of production.

Madbouly emphasised the government’s full support for the automotive sector, particularly electric vehicle (EV) production, and directed the immediate allocation of land for the factory. Moreover, The Industry Minister, Kamel Al-Wazir confirmed the government’s commitment to facilitating all necessary procedures to ensure the project’s success.

Attribution: Egyptian Cabinet

Subediting: M. S. Salama