China's Himile Group, a key player in the global tyre manufacturing industry, is set to invest US$100 million in a new factory in Egypt to produce tyre moulds and industrial components.
Recently, Dongfeng Motor Co., Ltd. (DFL) signed an exclusive distribution agreement with Nissan Egypt, marking the official introduction of the Venucia brand into Egypt.
Egypt’s Vice Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, held a virtual meeting with Thomas Schäfer, CEO of the Volkswagen brand to discuss the company’s plans to begin manufacturing cars in Egypt .