French company Stellnatis to set up EV production facility in Egypt

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Egyptian Prime Minister Mostafa Madbouli hosted the representatives of Stellantis, the French company that owns the brand Peugeot. Stellantis wants to benefit from the incentives offered by Egypt in the automotive sector for building a factory for electric cars production

Egyptian Prime Minister Mostafa Madbouli hosted the representatives of Stellantis, the French company that owns the brands Peugeot, Citroen, and Chrysler among others. He also met with agents of these companies operating in Egypt.

The French company Stellantis wants to benefit from the incentives offered by Egypt in the automotive sector by building a factory for electric car production. The company representatives, who attended the meeting said the products manufactured in Egypt would be sold both locally and worldwide.  The company has production facilities in Morocco, Algeria, and South Africa.

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The prime minister expressed the government’s readiness to offer all possible incentives for the company to enter the electric car market in Egypt. He asked for a detailed proposal for the establishment of the factory. An electric car produced by General Motors is expected to be marketed in Egypt in 2022. The government, the prime minister assured, could promote the sales of the car through various programs and initiatives including incentives and exemptions granted to consumers.