Egypt’s Al-Mansour Automotive Company has signed a Memorandum of Understanding (MoU) with US-based automotive manufacturer General Motors (GM) for cooperation on future growth opportunities including local production of electric vehicles. 

Al-Mansour said in a press statement that the MoU will explore investments in Egyptian start-ups involved in future mobility solutions; expansion of manufacturing of spare parts and allied products for domestic and export markets; and the possibility of local production and assembly of Battery Electric Vehicles (BEVs), including engagement with the Egyptian Government agencies and related institutions around requirements for EV readiness in the market. 

Mohamed Mansour, Chairman of Al-Mansour Automotive Group said the MoU “is a testament of our joint commitment to bolstering the Egyptian economy through its strong manufacturing history and supporting new start-ups and young entrepreneurs developing solutions for a better future.” 

Steve Kiefer, GM Senior Vice President and President GM International said GM is transforming into a platform innovator globally, as it invests $35 billion through 2025 in electric and autonomous vehicles, in pursuit of our vision of a world of Zero Crashes, Zero Emissions and Zero Congestion. 

“Partnerships like those between our two companies are just so important to these key investments and others that are driving GM’s global growth strategy,” he added. 

The partnership between the two companies spans five decades, dating back to the establishment of Mansour Automotive Company in 1975, the same year when it was appointed the official GM dealer in Egypt.   

Prime Minister Mostafa Madbouly also met the top officials of both companies to discuss the localisation of automotive manufacturing in Egypt. 

(Writing by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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