Nissan Egypt signs investment contract to manufacture 3rd model locally
Updated 12/4/2024 11:56:00 AM
Arab Finance: Nissan Egypt has signed an investment contract to locally manufacture a third model at its factory in Egypt, as per a statement issued by the Egyptian cabinet on December 4th.
This model will be manufactured with local components exceeding 54%.
Under the terms of the agreement, Nissan will invest $45 million into the new project, considering plans to export the third model once it is locally assembled.
Additionally, Nissan will invest $2 million to boost its production capacity for its three models, aiming to exceed 30,000 cars annually by 2025.
This move coincides with Nissan Egypt’s celebration of its 20th anniversary in the Egyptian market, where it operates a wholly owned factory.
Nissan Egypt has already exported over 16,000 locally manufactured Sunny cars and is working to increase its export volume by 50% during the current fiscal year.
The company is also focused on boosting dollar revenues from exports, which have surpassed $150 million to date.
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