Arab Finance: Minister of Industry Khaled Hashem met with the CEO of GB Auto Karim Gaddas to review the company’s current projects, future expansion plans, and strategy to enhance local manufacturing in the automotive sector, as per a statement.

The meeting covered the group’s production capabilities and ongoing investments, which exceed EGP 10 billion, with an annual production capacity of around 110,000 vehicles. 

Discussions also addressed the company’s expansion plans, which focus on increasing production capacity, raising local manufacturing ratios, and expanding export activity, in line with efforts to deepen value addition within the Egyptian market.

Hashem said the ministry is working to expand Egypt’s automotive production base to position the country as an industrial hub capable of meeting domestic demand and serving regional export markets.

He noted ongoing efforts to support local manufacturers committed to increasing the use of local components, enhancing added value, reducing carbon emissions, and complying with environmental standards, while encouraging the production of electric vehicles and buses.

He added that the Automotive Industry Development Program (AIDP) is designed to support companies in scaling up local production and exports, with a focus on localizing clean energy technologies and environmentally friendly vehicles.

Additionally, the minister pointed to opportunities for the group to benefit from the program’s incentives, particularly those linked to increasing reliance on local components and strengthening domestic supply chains, in support of the broader development of Egypt’s automotive industry.

Since its establishment, GB Auto has produced approximately 550,000 vehicles and employs around 3,000 engineers and workers. Its manufacturing footprint includes passenger car and bus factories, local components facilities, alongside a new factory in Sadat City for passenger and commercial vehicles that is set to open soon.