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SAIC Plans Assembly Plant in Egypt
SAIC Motor Corp. is pursuing plans to build a car factory in Egypt that could supply multiple Arab and African countries.
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SAIC Motor Corp. is pursuing plans to build a car factory in Egypt, China’s Xinhua news service reports.
Yang Xiaodong, executive director of SAIC’s international department, says the company’s interest stems from the size of the Egyptian car market and the country’s free-trade agreements with several Arab and African nations. He adds that SAIC is in talks about distributing its products through established carmakers in Egypt.
Terek Kabil, Egypt’s minister of trade and industry, notes that Egypt’s newly approved investment program encourages manufacturers to build entire vehicles in the country rather than assemble them from imported kits.
SAIC and the trade ministry did not indicate when the factory might open or how many vehicles it might produce per year.
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