Local Car Manufacturing Gets EGP 1.5 Billion Boost

The Ministry of Planning and Economic Development has committed EGP 1.5 billion in fiscal year 2025 to accelerate its automotive industry through a localisation-focused support program.

The initiative is part of the state’s broader strategy to enhance industrial productivity and reduce import dependence, particularly in the growing segment of electric and dual-fuel vehicles.

According to the Ministry, the funds will go toward supporting key suppliers, incentivising local production, and creating 10,000 new job opportunities in the automotive sector. The government’s aim is to build a more competitive domestic supply chain and attract further private investment.

The localisation push is in line with Egypt’s sustainable development agenda, as the country seeks to balance economic growth with environmental goals, including promoting greener vehicle technologies. The plan also aligns with Egypt’s efforts to transform into a regional hub for vehicle assembly and parts manufacturing.