Cairo – Mubasher: A delegation from French carmaker Renault is visiting Cairo to inspect a number of manufacturing lines of Egyptian car assembly firms in light of the mutual meeting with Egyptian International Motors’ (EIM) representatives.
Egypt-based EIM seeks to shift its business from car export to local assembly to meet the market need for Renault models, Almal News reported, citing sources at EIM.
Assembling Renault cars in the North African nation is still under study, EIM chairperson Khalid Nosseir commented.
It is worth note that this came following the deal signed on Tuesday, 13 March between Egyptian International Trading and Agencies (EIT) and Seoul-based Kia Motor Corporation to assemble the latest cars in Egypt within the coming five years with EGP 4.2 billion in investments.
Egyptian trade minister Tarek Kabil said on Tuesday that Egypt is the only country to obtain a license to assemble Kia cars in the Middle East and Africa, and is set to produce 15,000 cars annually.
