Nissan, El - Nasr to Produce 100,000 Cars

By; Ahmed Yasser

CAIRO, Mar.20. (SEE)-  Minister of Public Works Sector Hisham Tawfiq, reported that El-Nasr Automotive Company signed a cooperation protocol with Nissan of Japan, aiming to produce about 100,000 cars annually.

Tawfiq, the state is seeking to revive El-Nasr Motors and exploit its production lines through a partnership with a global entity with experience in the automotive industry.

The protocol with the foreign partner is also aimed to raise the proportion of the domestic component and exporting most of the production abroad. The government has been negotiating with several international companies over the past few years, hoping to revive car maintenance and restart the El Nasr Automotive plant.

Meanwhile, Nissan North Africa and Central India Chief Executive Biman Kargar confirmed that  his company is looking to increase production in Egypt in the next fiscal year, starting  on April to 28,000 cars per year compared to 22,000 currently, according to Bloomberg Newspaper.

Nissan Motors Japan is the third-largest selling brand in Egypt, after Chevrolet and Hyundai, with an 11% market share.

Nissan has begun negotiations with the government on incentives to manufacture electric cars in Egypt.