The signing ceremony was attended by Minister of Investment and International Trade Hassan Al-Khatib and Japanese Ambassador to Egypt Fumio Iwai. The agreement was signed by Nissan Africa President Jordi Vila and Nissan Egypt Managing Director Mohamed Abdel-Samad.
On the sidelines of the signing,
Engineer Abdel-Samad said that under the agreement, the production of the third
model will begin with a local component rate exceeding 54%. He added that the
company is currently studying plans to export the third model that will be
assembled locally.
He revealed that the third
model's production will commence with a local component rate exceeding 54%. The
company is exploring the possibility of exporting this locally assembled model.
Nissan plans to invest $45
million in this project, with an additional $2 million allocated to increase
the combined production capacity of the three models to over 30,000 cars
annually starting in 2025.
Abdel-Samad highlighted that
Nissan Egypt is celebrating 20 years of operation in the Egyptian market
through its wholly-owned plant. The company has successfully exported over
16,000 locally manufactured Sunny models and aims to increase its export volume
by nearly 50% in the current fiscal year compared to the previous year. This is
expected to generate over $150 million in dollar returns from exports.
Nissan Egypt maintains its position as a leading player in the Egyptian automotive market, offering a diverse range of locally assembled and imported models, as well as supporting electric vehicle technologies.