Cairo – Mubasher: Paris-based Groupe PSA, owner of Peugeot brand, plans to pump around EUR 20 million in investments into Egyptian spare parts market next year.
Investments of the French automobile manufacturer in the North African nation are expected to hike to EUR 100 million, Alborsa News reported.
This came on the sidelines of a conference held by Egypt’s Al-Mansour Automotive and UAE’s Scope Investment for forming a partnership for the exclusive distribution of Peugeot cars in Egypt.
For his part, Adel Khedr, managing director at Al-Mansour Automotive, said that five models of Peugeot, including the latest 3008 and 5008 models, will be launched in the local market.
In January, Al-Mansour Automotive and Scope Investment announced they would commence selling Peugeot models in April.
Additionally, both firms had selected their authorised centres to provide Peugeot after-sale and maintenance services, and these dealers are Elsaba Autoservice, El Seoudi Group, Wahdan Auto Group, and Nour El-Din El-Sherif.
This Egyptian-Emirati alliance has captured the distribution rights for Peugeot cars from Cairo for Development and Cars Manufacturing (CDCM), which Peugeot-Citroën, a subsidiary of Groupe PSA, ended its partnership with.
