Arab Finance: Al-Mansour Automotive Co is planning to invest $35 million into the establishment of a factory to locally assemble cars and manufacture spare parts, according to an official statement.

The company is also considering launching locally manufactured electric cars by 50% at affordable prices in the Egyptian market in a few years.

This step comes in line with the state’s plan, presidential directives, and Egypt Vision 2030 for sustainable development.

The automotive company’s future plans were unveiled during a meeting between Prime Minister Mostafa Madbouly and CEO of Al-Mansour Automotive Ankush Arora, in the presence of a number of officials.

The Egyptian government is dealing with the development and localization of the automotive industry as a priority, Madbouly said, praising the company’s plan to launch eco-friendly electric vehicles in the market.

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