Semeneh Highlights Local Auto Production
The article focused on the importance of localizing the automotive industry in Egypt and Africa to enhance their competitiveness. It linked an increase in the local content rate to higher production levels and economies of scale. Experts noted that reaching a local content rate of over 60% could make domestically manufactured cars cheaper than imported ones before tariffs, thereby boosting competition. The article also highlighted the results of the Egyptian government's strategy to develop the automotive industry, aiming for Mansour Motors to produce 50,000 cars in the first phase and 100,000 in the second, with an emphasis on exporting to support the market. Furthermore, the article emphasized that expanding local automotive components, especially cables and electrical harnesses, strengthens Egypt's competitive advantage, supported by field visits to foster industrial relationships between African and Egyptian manufacturers.
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