The deal aims to strengthen cooperation in the manufacturing and assembly of the Jetour T1 and T2 models in Egypt, with a total investment of $123 million, according to an official Cabinet statement.
Prime Minister, Mostafa Madbouly, witnessed the signing ceremony of a new agreement between the global automaker Jetour and El-Kasrawy Group at the Cabinet headquarters in Egypt’s New Administrative Capital.
The deal aims to strengthen cooperation in the manufacturing and assembly of the Jetour T1 and T2 models in Egypt, with a total investment of $123 million, according to an official Cabinet statement.
Prime Minister Madbouly emphasized that this agreement marks an important addition to Egypt’s ongoing efforts to localize the automotive industry. Under this partnership, two new global car models will be produced and assembled locally.
He noted that this is the latest in a series of similar agreements signed in recent months, reflecting the success of Egypt’s national strategy to develop the automotive sector and its appeal to international car manufacturers through various incentives.
Mohamed El-Kasrawy, Chairman of El-Kasrawy Group, stated that the agreement reinforces the existing partnership between El-Kasrawy and Jetour. The two parties agreed to manufacture and assemble the Jetour T1 and T2 models in Egypt, as well as to enhance cooperation in exporting Jetour vehicles from Egypt to various international markets.
El-Kasrawy added that the agreement includes the establishment of a new manufacturing facility with three production lines for welding, painting, and final assembly.
The factory, which will require a $123 million investment, will span 86,000 square meters in the industrial zone of 6th of October City. It is expected to serve both the local market and export needs, while creating around 1,500 job opportunities.
During the event, El-Kasrawy also unveiled the locally assembled X70 Plus model, with a planned production volume of 5,000 vehicles annually. Prime Minister Madbouly viewed a prototype of the vehicle before the signing of the agreement.
