Revving Up: Egypt's auto industry accelerates with new fund, council

Tue, 08 Aug 2023 - 08:42 GMT

Egypt announces groundbreaking fund and council to drive innovation in the environment-friendly automotive sector.

Number of motor vehicles in Egypt rose by 100K in 2021: CAPMAS

Tue, 14 Jun 2022 - 04:13 GMT

The Central Agency for Public Mobilization and Statistics (CAPMAS) released Tuesday the 2021 figures on motor vehicles in Egypt.

Egypt to build automotive factory in SCzone targeting to produce 75K vehicles per annum in 1st phase

Tue, 14 Jun 2022 - 03:32 GMT

Prime Minister Mostafa Madbouli attended Tuesday the signing of a quadrilateral memorandum of understanding (MoU) to build an automotive factory in the Suez Canal Economic Zone (SCzone) located Eastern Port Said.

Japan's Sumitomo to build its world largest automotive braided cable factory in Egypt

Wed, 08 Jun 2022 - 03:39 GMT

Prime Minister Mostafa Madbouli attended Wednesday the signing of the MoU between the General Authority for Free Zones and Investment (GAFI) and Sumitomo Egypt.

Egypt looks forward to increasing French investments in 8 sectors: President Sisi

Mon, 28 Mar 2022 - 02:19 GMT

President Abdel Fatah al-Sisi received Monday French Minister of Economy and Finance Bruno Le Maire at Al Itiyadiyah Presidential Palace.

Volkswagen to invest €60 bn by 2024 in future car models

Fri, 15 Nov 2019 - 01:03 GMT

"The group plans to spend nearly 60 billion euros ($66 billion) on the future areas of hybridization, electric mobility and digitalization in the next five years," said the group in a statement.

GB Auto turns to losses, revenues grow in Q2, H1

Wed, 09 Aug 2017 - 02:55 GMT

Gross profit fell 16.6 percent year-on-year to LE 473.3 million in Q2 of 2017, yielding a gross profit margin of 11.3 percent.