Arab Finance: Prime Minister Mostafa Madbouly held a meeting with officials from Stellantis Automotive Group to discuss the company’s future expansion plans in Egypt, as per a statement.

The discussions focused on Stellantis' ambitious plan to localize manufacturing in Egypt, which includes the introduction of four new car models over the next three years.

The total investment for this project exceeds €116 million.

Madbouly emphasized the government’s commitment to supporting the automotive sector and highlighted the importance of this collaboration, particularly with the Arab Organization for Industrialization (AOI).

CEO of Stellantis Hesham Hosny confirmed that Stellantis is eager to expand its footprint in Egypt, leveraging the incentives offered by the government to attract investors.

As part of the localization initiative, the company plans to gradually increase the local component in its vehicles, aiming for 45% in 2025 and 52% by 2028.

The CEO also announced plans for a manufacturing project in partnership with a local company to produce a three-wheeled electric vehicle, intended for both the domestic and export markets.

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