Madbouly: We welcome all committed partnerships to transform Egypt into a global hub for automotive manufacturing and auto-feeding industries. General Motors (GM): We intend to expand in the Egyptian market and support the government's policies in implementing "green transport". Yesterday evening, Prime Minister Dr. Mostafa Madbouly held a meeting with the Chairman of the Board of Directors of "Mansour Group" Eng. Mohamed Mansour, the President of General Motors International Mr. Steve Kiefer, the President of General Motors Africa and East Middle East Mr. Louay Al Shurafa, the Chairman of the Board of Directors of General Motors Egypt Mr. Tarek Atta, the CEO of Mansour Automotive Mr. Ankush Arora, the Vice President of General Motors for global public policy Mr. Tom Kony, and a member of the Board of Directors of Mansour Group Mr. Yassin Mansour. The meeting was attended by GAFI CEO Counselor Mohamed Abdel Wahab. At the beginning of the meeting, Dr. Mostafa Madbouly affirmed the great importance the government attaches to the localization of the automotive industry. He pointed out that the government is preparing to launch the "Automotive Industry Strategy in Egypt" and announcing it before the end of the current year.
Such comes in implementation of the directives of H.E. President Abdel Fattah El-Sisi, President of the Republic, on the importance of preparing an integrated strategy to localize the automotive industry and autofeeding industry, as well as transferring advanced technology to the largest possible proportion of local components, which supports the industry and contributes to attracting more investments in such important and vital sector.
The Prime Minister added that such strategy would grant a set of investment incentives to support the localization of the automotive industry and auto-feeding industries. He stressed the government's readiness to provide all possible investment incentives, not only to support the localization of the automotive industry, but also to transform Egypt into a regional and international hub for the automotive industry and auto-feeding industries. . In addition, Dr. Mostafa Madbouly thanked "General Motors" and "Mansour Group" for their participation in the presidential initiative "Replacement of Obsolete Vehicles". He urged them to increase their production within such initiative during the coming period, to meet the increasing demand for these cars. He also expressed his understanding of the global crisis that automotive manufacturers are going through in light of the shortage of "semiconductors" parts, and stressed the importance of developing a proactive plan to increase production once the calamity is over. For his part, the Chairman of Mansour Group Eng.
Mohamed Mansour indicated that the Group is about to sign a memorandum of understanding (MoU) with General Motors International. The MoU aims at supporting start-ups in the electric automotive sector, and increasing production rates and exporting to foreign markets. In addition to supporting the efforts to transform Egypt into a regional and global hub for automotive manufacturing and auto-feeding industries. He affirmed the company's willingness to take the lead in promoting electric automotive in Egypt. President of General Motors International Steve Kiefer presented the history of the distinguished partnership with Mansour Group, pointing out that the company's first factory in Egypt was established in 1983, and production began in 1985.
He also introduced the company's work areas around the world and its future strategy. He pointed out the company's plan to increase its global investments by about $35 billion by 2025.
Thus, it would become a leader in the market of electric vehicles and self-driving cars, and in the development of automotive battery management technology, and others. He added that the company is about to produce several types of electric vehicles by 2025, and would choose the appropriate electric car model and specifications that would introduce and manufacture in the Egyptian market. He also pointed out the company's intention to expand significantly in the Egyptian market during the coming period, as well as its aspiration to share the best practices that it adopted from its experiences in 60 different markets with the Egyptian government to support its policies in implementing "green transport".
He concluded his speech by confirming the company's support for the efforts to host the UN Climate Change Conference "COP27", by offering several electric vehicles. Meanwhile, Dr. Mostafa Madbouly expressed the government's aspiration to work with "General Motors" and "Mansour Group" to support the State's plan to localize the automotive industry and auto-feeding industries. He urged the companies to develop a clear vision for the proposed frameworks during the next phase.
