Arab Finance: China-based vehicle manufacturer BYD could halt production temporarily at its factory in Egypt within two weeks, Chairman of BYD vehicles’ distributor in Egypt Al-Amal Group Amr Soliman told Asharq Business.

This is likely to happen due to the lack of production components and difficulties in arranging foreign currency to open letters of credit, Soliman highlighted.

Soliman noted that his factory’s production declined from 1,000 vehicles per month to a range between 300 and 400 vehicles now.

Moreover, he said that the local components of the locally manufactured cars account for 45%, while 55% of the components are imported from abroad.

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