Netherlands’ Stellantis to build EVs factory in Egypt

Netherlands’ Stellantis to build EVs factory in Egypt

Arab Finance: Stellantis, an Amsterdam-based automotive manufacturing corporation, is planning to establish a factory in Egypt for manufacturing electric vehicles (EVs), according to an official statement by the Egyptian Cabinet on May 17th.

The factory is set to play a role in meeting the local market’s demand for EVs as well as exporting them.

The group has an ambitious plan for expansion in the Egyptian market through manufacturing low-cost EVs, Egypt’s former transport minister Mohamed Mansour said.

The international automobiles manufacturer sees Egypt as one of the promising markets in the EVs field, in light of the incentives provided to companies investing in this sector, Mansour noted.

For his part, Samir Cherfan, Stellantis’ Chief Operating Officer (COO) for Middle East and Africa, said that the group aims to benefit from the incentives offered by the Egyptian government within the framework of its strategy to develop the automotive industry.

Founded in 2021, Stellantis has a high-end brand portfolio, including Peugeot, Chrysler, Opel, Citroën, Dodge, Maserati, Jeep, and more.

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