German automaker Daimler's Mercedes-Benz Cars unit says it is developing plans to open an assembly plant in Egypt.
Mercedes-Benz said in a statement Friday that the passenger car plant would be built by a local business partner and the project is being developed "in close collaboration" with Egypt's government. It said board member Markus Schaefer recently held "successful discussions" with Egypt's president and prime minister.
Mr Schaefer described Egypt as "an attractive and competitive location for production and supporting logistics" and said having an assembly plant there would enable Mercedes-Benz to expand its market position. The company said it is also offering expertise on modern mobility concepts، electric cars and autonomous driving as Egypt develops a new capital and other infrastructure projects، but detailed agreements haven't yet been reached on that.
Last week Egypt’s prime minister held a meeting with Markus Schafer، member of the Divisional Board of Mercedes-Benz Cars، during the premier’s visit to Berlin، where Schafer said that his company wanted to resume production in Egypt
President Abdel-Fattah El-Sisi had also met with Schafer in December.
Mercedes-Benz announced it was suspending its relationship with the Egyptian-German Automotive company، which assembles vehicles inside Egypt، two years ago.
The decision came after the company foresaw no economic benefits following the cut of customs on imported cars from the European Union (EU)، which reached zero by the start of 2019.