Minister of Industry and Transport Kamel El-Wazir and CEO of EGA Yasser Saleh attended the production line's launch.

During the launch, El-Wazir emphasized that the introduction of the Exeed vehicle aligns with President Abdel-Fattah El-Sisi’s directives to transform Egypt into a leading industrial hub, particularly in the automotive industry.

He also highlighted the ongoing collaboration with local manufacturers to increase the local content in Egyptian-made vehicles, noting that the local components used in domestic cars have been steadily increasing each year.

Furthermore, the minister pointed out that the Egyptian market now offers a wide range of locally produced vehicles, including models from Nissan, General Motors, and the state-owned Nasr Automotive Company (NASR), with local content in some cars exceeding 50 percent.

El-Wazir also noted that the Egyptian-German Automotive (EGA) company produces luxury cars under the Mercedes-Benz, catering to the Egyptian market's diverse needs.

This success, he added, reflects the skill and capabilities of Egyptian workers across various industries.

The minister indicated that the EGA factory produces 1,200 Mercedes cars and will produce 3,000 units of Exeed cars annually, generating significant employment opportunities for Egyptian youth. 

For his part, Saleh highlighted that the partnership with Exeed holds a promising future for the Egyptian market.

He also emphasized the company's dedication to advancing the automotive industry, boosting local production, and positioning Egypt as a hub for high-quality car manufacturing. 

Moreover, Saleh said the production of RX and VX models has already begun to meet various customer demands, with plans to expand the range of models manufactured at EGA.

Exeed is a premium automotive brand launched by Chery Automobile, a well-established Chinese car manufacturer.

The brand is crafted to merge the finest elements of European automotive expertise with cutting-edge Chinese manufacturing, delivering a combination of luxury, innovative technology, and exceptional performance.

In related news, the Nasr Automotive Company has resumed operations after a 15-year hiatus, signalling a revival of the country's automotive manufacturing capabilities, according to the Egyptian cabinet.

The Egyptian market sells half a million vehicles annually. Due to population growth and economic development, this number is expected to rise significantly by 2030.

In June 2022, Egypt launched a national strategy for developing the automotive industry, with the goal of localizing it and boosting exports.

This strategy aims to position Egypt as a key gateway to emerging vehicle markets in Africa while fostering strong commercial and investment ties with major regional trade partners to ensure sustainable growth and development for all parties involved.