Nissan Motor reportedly is to invest $US100 million by 2010 to expand its operations in Egypt, including some $60 million earmarked by 2005.
Go deeper with GlobalData
Nissan plans to buy out and renovate an existing manufacturing facility near Cairo, while enhancing sales and distribution operations there, the company said in a statement cited by Reuters.
Under the latest expansion plan, Nissan reportedly plans to start local assembly of its first passenger vehicle, the Sunny [Sentra/Pulsar] sedan, in Egypt in the summer of 2005 – this will be followed by the launch of the locally assembled X-Trail sports utility vehicle.
According to Reuters, Nissan began operations in Egypt in December 1997, selling a locally assembled pickup model and imported Sunny sedan.
“This investment proves our commitment to Egypt and to the Middle East as well as a further expansion in other key global markets,” Carlos Ghosn, president and CEO of Nissan was reported as saying. “Egypt offers Nissan a competitive geographic base to help expand both its local business as well as exports to North American and Mid-Eastern markets.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
