29 Aug 2021

GM (General Motors) is considering expanding its operations in Egypt in light of the government’s new automotive sector support initiative. This was revealed after a meeting between the Minister of Trade & Industry and GM’s MEA President & Managing Director. The meeting addressed how the government’s automotive sector initiative could benefit GM’s expansion plans. The initiative involves EGP500mn of incentives directed towards automobile manufacturers who export their vehicles. It also aims to localize automobile manufacturing in Egypt, especially electric vehicles. The Minister pointed out the government’s drive towards renewable energy, beginning with the current initiative to convert vehicles to run on natural gas instead of gasoline, while building the infrastructure necessary to enable the eventual widespread adoption of electric vehicles.

(Source: Ministry of Trade & Industry, GM Authority (English), Amwal al-Ghad, al-Ahram, al-Youm al-Saabe, al-Masry al-Youm, al-Watan)