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FINANCIAL NEWS
Egypt’s GB Auto, Geely Automobile sign deal
21 Feb 2012
(MENAFN) Egypt’s GB Auto said that it inked a cooperation deal with Geely Automobile Holding’s Ltd to start assembling Geely cars and distribute them in North Africa, reported Reuters.
The country’s biggest listed automobile assembler added that the firm would assemble Geely autos in Egypt using kits supplied by the Hong Kong-based firm; moreover, the cars would also include local Egyptian content.
It also said that assembling Geely’s passenger cars would begin in 2012’s third quarter.
It is worth noting that during the second quarter of the current year, GB Auto would begin the launch of two models in Egypt.
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