Mansour Group signs land lease contract with Egypt's General Authority for Land and Dry Port Logistics Zones

According to the agreement, Mansour Mobility & Manufacturing (MMM), a subsidiary of Mansour Group, successfully signed a land lease contract with the General Authority of Land and Dry Port Logistics Zones in Egypt to plan and build a modern automobile manufacturing plant in the newly built October 6th City Industrial Zone. The factory is initially planned to have an annual production capacity of 50,000 vehicles, and the second phase of production capacity is expected to double to 100,000 vehicles, and is committed to achieving a localization rate of over 45%. SAIC Motor has built an entire automotive industry value chain overseas, including R&D centers, production bases, marketing centers, supply chain centers and financial companies, and its products and services have entered more than 100 countries and regions around the world. In 2023, SAIC's overseas sales have reached 1.2 million vehicles, successfully creating SAIC's first "200,000-vehicle-level" market (Europe) and five "100,000-vehicle-level" markets overseas.