Egypt’s El Nasr signs vehicle manufacturing deal with China’s FAW

Egypt’s El Nasr Automotive Manufacturing Company signed an agreement on Wednesday with China’s FAW Group to manufacture vehicles under the Nasr brand, the government said in a statement.

The agreement covers production of a range of vehicles in Egypt under the historic Nasr name, according to a statement.

El Nasr said the partnership aims to support local vehicle production and expand its presence in the domestic market, with potential for future exports to regional markets.

The company did not disclose financial terms or production timelines.

Egypt has been seeking to revive its automotive manufacturing sector by attracting foreign partnerships and increasing local production capacity in an effort to reduce imports and develop export-oriented industries.

Attribution: Amwal Al Ghad English