Table of Contents
Key Points
- Mansour Group, SAIC Motor to invest $135 million in Egypt auto plant, targeting 50,000 vehicles annually by 2026.
- New October City facility aligns with Egypt’s strategy to localize vehicle production, integrating 45% local content.
- Mohamed Mansour’s $7.5 billion conglomerate deepens Egypt-China ties, positioning Egypt as a regional automotive manufacturing hub.
Mansour Group, a Cairo-based multinational conglomerate led by Egyptian billionaire Mohamed Mansour, has partnered with China’s SAIC Motor to build a $135 million automotive plant in New October City.
The project, announced at a ceremony with Egypt’s Prime Minister Mostafa Madbouly, supports Egypt’s goal to localize vehicle production.
The 126,000-square-meter facility in the city’s industrial zone is set to begin production in Q2 2026, initially producing 50,000 MG-branded vehicles annually, with plans to increase capacity to 100,000 units later under a technical licensing agreement.
Driving Egypt’s automotive strategy
Prime Minister Madbouly called the new project a key part of Egypt’s automotive strategy, aimed at boosting local manufacturing, fostering innovation, and reducing reliance on imports. “This partnership aligns with our vision for sustainable growth in the sector and strengthens Egypt’s position as a manufacturing hub,” Madbouly stated.
Key government officials, including Deputy Prime Minister Kamel Al-Wazir and Investment Minister Hassan El-Khatib, attended the ceremony, highlighting the project’s significance. The plant will incorporate over 45 percent local content, helping meet government goals for expanding domestic supply chains and creating jobs both at the factory and across the economy.
The high-tech plant will feature advanced facilities, including a body shop, paint workshop, assembly line, and warehouse, improving logistics. These capabilities will position Egypt as a regional automotive hub while fostering technical training and innovation. “The infrastructure will not only facilitate vehicle production but also strengthen Egypt’s role in the global automotive supply chain,” Al-Wazir said.
Mohamed Mansour: Steering a global conglomerate
With a net worth of $3.3 billion, according to Forbes, Mohamed Mansour has solidified his status as one of Egypt’s wealthiest individuals, spearheading the global expansion of Mansour Group, which operates in over 100 countries.
Founded in 1952, the group generates more than $7.5 billion in annual revenues, spanning industries such as automotive, capital markets, technology, and logistics.
The Mansour-SAIC collaboration further strengthens the economic ties between Egypt and China, adding to a growing portfolio of foreign investments driving Egypt's industrial transformation. This partnership not only bolsters Egypt's standing as a regional automotive manufacturing hub but also aligns with the country's broader efforts to diversify its economy.
The New October City plant is poised to be a game-changer for Mansour Group’s automotive aspirations, advancing both the company’s legacy of innovation and Egypt’s industrial development agenda.
