Egypt’s state-run automaker Al Nasr has restarted production after a 15-year break

CAIRO, Nov. 16 (Xinhua) — Egypt’s state-run automobile manufacturer Al Nasr Automotive Production Company restarted production on Saturday after a 15-year break, the Egyptian cabinet said in a statement.

At the ceremony held to mark the return of the company’s production lines, Egyptian Prime Minister Mostafa Madbouly said that Al Nasr’s return was a “strategic decision made by the state” and emphasized the vital role of private sector partnerships in advancing major projects.

Founded in 1960 as the first Arab vehicle manufacturer and affiliated with the Ministry of Public Enterprises Sector, Al Nasr was once the leading regional automobile manufacturer. However, it faced a gradual decline and was scheduled to be liquidated in 2009.

Osama Aboul-Magd, president of the Egyptian Automotive Dealers Association, said the reopening of Al Nasr is important to improve industrial localization.

“This will help save foreign exchange required for relevant imports, provide job opportunities, increase the employment rate and lead to the export of vehicles produced in Egypt,” he said.

Aboul-Magd, who also serves as vice president of the Automotive Department of the Cairo Chamber of Commerce, noted that Al Nasr plans to produce electric vehicles starting from May 2025.