Mercedes-Benz has signed a Memorandum of Understanding (MoU) with the Egyptian Government for local assembly of passenger cars in the country.
This planned commitment is set to further improve the market position of Mercedes-Benz Cars in Egypt, the company said in a release.
“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 stabilizing the economic environment,” says Markus Schäfer, member of the Daimler AG Board of Management for Corporate Research and Mercedes-Benz Cars Development.
The MoU not only describes a local Mercedes-Benz passenger car assembly, but also contains other potential fields of cooperation. The assembly will be set up by a local business partner. At the same time, Mercedes-Benz Cars emphasizes the involvement and know-how of Egyptian suppliers.
“In building up a local car assembly, we will be able to structure our production network even more flexibly and efficiently and respond even better to the needs of our customers,” says Jörg Burzer, Executive Board member Mercedes-Benz Cars, Production and Supply Chain.
In view of the long-term market potential, further investments are also conceivable, for example expansion of the dealer network, a logistical hub in the Suez Canal Special Economic Zone and a training centre. Furthermore, the company has offered to make its specialist expertise with respect to modern mobility concepts, e-mobility and electric vehicles, as well as autonomous driving, available.
With the planned car assembly operation in Egypt, Mercedes-Benz Cars is supporting Egypt as an industrial location. As per the company, Mercedes-Benz is securing more than 1,000 direct and indirect jobs in Egypt with its own import and sales organisation, a central spare parts warehouse and numerous authorised retailers and workshops in Cairo, Gizeh, Alexandria and Hurghada. With the new car assembly operation, Mercedes-Benz Cars will create new employment and contribute to better training opportunities with the planned training centre.
