Chinese state-owned automotive manufacturing company SAIC Motor the largest automotive dealer in Egypt Mansour Automotive Group on Monday in Cairo signed a venture agreement for the production of MG brand vehicles in Egypt.
At the signing ceremony, Chairman of SAIC Motor Chen Hong said his company has already built an industrial chain that integrates design, production, marketing, logistics and Finance in the global market.
Chief Executive officer Mansour Automotive Group Ankush Arora said that the car production will start during the year. According to him, the group signed a joint venture agreement to become the exclusive distributor of SAIC in Africa South of the Sahara. He also said that in the next five months will be launched into production a new electric SUV model MG ZS, which will be the first locally produced electric car on the Egyptian market.