This morning, at the government headquarters in the New Administrative Capital, Dr. Mostafa Madbouly, Prime Minister, witnessed the signing of “Nissan Egypt” an investment contract regarding the manufacture of a third model in its factory in Egypt and the expansion of its manufacturing activities in the local market, in the presence of Eng. Hassan Al-Khatib, Minister of Investment and Foreign Trade, and Fumio Iwai, Japanese Ambassador to Egypt.
The contract was signed by Jordi Villa, President of Nissan Africa, on behalf of Nissan International, and Engineer/Mohamed Abdel Samad, Managing Director of Nissan Egypt.
On the sidelines of the signing, Eng. Mohamed Abdel Samad, Managing Director of Nissan Egypt, said that according to the contract, the manufacturing of the third model will begin with a local component exceeding 54%, adding that the company is currently studying plans to export the third “model” that will be assembled locally.” .
Abdel Samad continued: Nissan announced its plan to invest $45 million in this project, and in addition to that, the company will pump additional investments worth $2 million to reach a production capacity for the three models that exceeds 30,000 cars annually starting in 2025.
The Managing Director of Nissan Egypt said: This coincides with Nissan Egypt’s celebration of the 20th anniversary of its launch in the Egyptian market through its factory wholly owned by the Japanese company.
Engineer Mohamed Abdel Samad also indicated that Nissan Egypt has exported more than 16,000 locally manufactured Sunny cars, and is working to move forward to achieve the company’s goals by increasing the volume of its exports by nearly 50% during the current fiscal year. Compared to the rates of exports for the fiscal year 2023, it also works to increase dollar revenues from exports, which so far exceed $150 million.
Abdel Samad explained that Nissan Egypt is a leading company in the Egyptian car market, as it offers a mix between locally assembled and imported models, in addition to providing technologies to support electric cars.
