Stellantis MEA announces assembly of Jeep Grand Cherokee L in Egypt
Updated 9/5/2024 7:22:00 AMArab Finance: The automaker Stellantis Middle East and Africa (MEA) has announced the launch and assembly of Jeep Grand Cherokee L cars at Egypt’s Arab American Vehicles (AAV) plant, affiliated with the Arab Organization for Industrialization (AOI), according to a press release.
This move is part of the company’s regional growth plans.
“This initiative aligns closely with the Egyptian government’s broader strategy to enhance local manufacturing and drive economic growth through industrial development,” the press release read.
“By restarting production at the Arab American Vehicles (AAV) factory, we are not just introducing a new Jeep vehicle; we are recommitting to Egypt's industrial growth and solidifying our position in the MEA region,” Samir Cherfan, COO of Stellantis MEA, stated.
Cherfan added that his firm targets achieving leadership in the Egyptian market and increasing its regional market share to more than 22% by 2030.
“This relaunch of local production not only demonstrates our confidence in Egyptian expertise but also our commitment to delivering world-class vehicles tailored to local preferences,” Hesham Hosni, Managing Director of Stellantis Egypt, said.
On a related note, Stellantis Egypt is considering assembling Citroen’s C4X car model in Egypt in cooperation with the AAV over the coming period, Al Mal News reported.
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