The Japanese company Toyota is considering building two car factories in Africa, and Egypt is one of the preferred countries to host one of the manufacturers.
According to the General Directorate of Investment and Free Zones of Egypt, the production capacity of each plant is 100,000 vehicles per year.
According to the statement, the head of the Japanese side of the Egyptian-Japanese Business Council and the head of the auto industry of Toyota Tsusho, John Karoubi, said that Toyota Tsusho is committed to reviving the auto industry in the African market. , as the company will establish two factories within the continent, with a production capacity of 100,000 vehicles per year for each, in addition to its factories located in several countries on the continent.
Karoubi pointed out that Egypt is one of the preferred countries to set up a plant for three reasons, the first being the establishment of factories that feed the automotive industry, such as a car braiding plant, and the second reason is the availability of a skilled workforce, as Toyota Tsusho after some time will rely on local experience. Limited training and qualifications in the hands of Japanese specialists.
The company aims to train Egyptian specialists in the automotive industry and return Japanese specialists to their countries. The third reason is the efficiency of the investment environment in Egypt, which means that Egypt has taken major steps to localize the automotive industry in Egypt.
Toyota Tsusho has been operating in Egypt for over 40 years and is one of the ten largest companies in the world by market value.
This Article Egypt May Host Plant of One of the World’s Largest Car Manufacturers. was first Published on World Weekly News
Source: Egypt May Host Plant of One of the World’s Largest Car Manufacturers.
Category: Business, car, Egypt, host, Largest, Manufacturers, Plant, Worlds
