Hashem mulls Egypt's automotive expansion with General Motors
Updated 3/8/2026 10:19:00 AM
Arab Finance: Minister of Industry Khaled Hashem met with representatives of General Motors to review the company's current and future projects and expansion plans in Egypt's automotive sector, according to a statement.
During the meeting, Hashem emphasized the government's commitment to localizing the automotive industry as a vital strategic sector that supports economic growth, expands job opportunities, and boosts exports.
The minister noted that the ministry is implementing a comprehensive strategy to develop the sector, focusing on deepening local manufacturing, increasing the percentage of local components, and attracting foreign investments.
Moreover, Hashem reviewed the company's operations in Egypt, including its plant in 6th of October City, the largest in the country in terms of production capacity, reaching 100,000 units annually.
Total local production of the plant exceeded one million vehicles by 2024, with more than $530 million in investment.
The plant utilizes advanced manufacturing technologies in accordance with international standards, providing more than 1,300 job opportunities.
The meeting also reviewed the progress of the Optra model's local production project and highlighted several proposals aimed at enhancing the investment environment.
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