After a 15-year hiatus, the ghost returned again: Al-Nasr Automotive Company, a giant in automobile manufacturing and production in the 1960s.
Of course, we were all surprised by what happened at Al-Nasr Motors, especially after its absence from the scene for many years. That is why many people imagined that its days were gone and would never come again.
But during the era of President Abdel Fattah El-Sisi, we will return to glory and we will not leave an opportunity or we will exploit it, in order to return the Egyptian economy to leadership again, and also because there are many economic gains from the return of the giant companies of the past, including Al-Nasr Automotive.
The first economic gain from the return of Al-Nasr Automotive Company is that its return reflects the state’s commitment to deepening local manufacturing and strengthening the national industry, and it also confirms that the state continues to overcome obstacles and challenges to develop the Egyptian industry, and all of this is with the aim of relying on the local product, reducing imports, increasing exports and national income, and providing Hard currency.
In addition to this, the return of Al-Nasr Automotive will operate closed factories and prevent the closure of any industrial facility except by a decision from the Prime Minister, in addition to emphasizing the idea of providing investment incentives, export support, and tax and customs facilitations, all of which are steps that are in the interest of the local industry.
Al-Nasr Automotive Company, which was established about 65 years ago as the first Egyptian car manufacturing company, is considered one of the strongholds of the Egyptian industry. The resumption of its operation and the modernization of its production lines will contribute to the revitalization of the automobile industry in Egypt, especially with the start of the production of electric buses and their export to some Arab countries.
Also, the production capacity of the bus factory has reached 300 buses annually, and it is expected to reach 1,500 buses by the year 2027, with an increase in the proportion of the local component to approximately 60% and 70%. The company’s restart of the company’s production of cars will allow the local product to be present and compete in the market, and will increase the size of Local car sales will enhance their competitiveness with foreign products.
It is clear that Al-Nasr Automotive aims to produce passenger cars in the next stage, and this will increase the volume of its exports and enhance its presence in the African and Arab markets, and it will also contribute to increasing Egypt’s foreign exchange income, and this is of course because the automobile industry is considered one of the large and important industries, and the company will return. With a new guise, it will keep pace with global developments in this industry, and will contribute to Egypt being attractive to foreign investment in the automobile industry.
Of course, all of this will enhance Egyptian industrial production, provide job opportunities and foreign currencies, increase the rate of economic growth and improve macroeconomic indicators. This is because the company is a brand and a big name, and has a long history and many products are still present on the Egyptian street, such as Fiat and Al-Nasr Al-Luri cars. Nasr buses and agricultural tractors, which have proven their competitiveness and strength compared to foreign vehicles.
Not only that, Al-Nasr Company also entered into a new partnership with Al-Safi Group, to manufacture international cars locally with an investment amounting to 500 million pounds.
This is the first fruit of the return, because this partnership aims to develop the automotive industry sector in Egypt. In order to meet the needs of the local market and export to neighboring countries.
Of course, this partnership contributes to supporting Egypt’s vision to develop the automotive industry, enhance its regional position, and achieve the Egyptian state’s goals of partnerships with the private sector, and thus achieve our ambitions to provide high-quality cars at competitive prices to the Egyptian consumer, enhance our contribution to the national economy, and also compete with international brands. .
