Cairo – Mubasher: The German-based automotive company Mercedes-Benz Cars has signed a memorandum of understanding (MoU) with the Egyptian government to locally assemble Mercedes-Benz passenger cars in Egypt.
This major step will enhance Mercedes-Benz’s position in the Egyptian market, according to a press release.
Under the MoU, Mercedes-Benz passenger cars will be locally assembled in Egypt through a local business partner, Mercedes-Benz Cars highlighted.
Markus Schäfer, member of the Daimler AG board of management for corporate research and Mercedes-Benz cars development, said: “Egypt has been an important market of Daimler for passenger cars, buses, and commercial vehicles for many years.”
“In the long term, we create various potential for the country and the region through strategic cooperation for mobility topics. Thereby we contribute to stabilising the economic environment,” Schäfer added.
The collaboration will see potential long-term further investments in the Egyptian market, including the expansion of the dealer network, a logistical hub in the Suez Canal Special Economic Zone and a training centre.
Mercedes-Benz Cars supports Egypt as an industrial location and is now securing over 1,000 direct and indirect jobs in the North African state with its own import and sales organisation, a central spare parts warehouse and many authorised retailers and workshops in Cairo, Giza, Alexandria, and Hurghada.
