April 20, 2021

Egypt, Hyundai to discuss car replacement initiative amid component shortages

Global producers such as GM, Ford, and Stellantis have witnessed production cuts due to shortages of semiconductor chips

Egyptian Government representatives are expected to meet, this week, with Hyundai representatives to discuss the crisis affecting the South Korean company’s supply of vehicle components.

The meeting, which will feature the company’s board members along with representatives of the presidential initiative to replace old vehicles with newer ones that run on clean energy, is set to focus on the shortage in supply. It is worth noting that more than one Hyundai model is participating in the initiative.

The distributors in Egypt who are taking part in the initiative are: GB Auto, the Egypt agent for Hyundai; the Al Amal Auto Company, the local agent for Lada and Nissan; and the Al-Mansour Automotive Company, which holds the Chevrolet franchise in Egypt.

A spokesperson for the initiative said that negotiations between the representatives from both sides will be reviewed in order to arrive at a decision.

He noted that the Board of Directors could decide to extend the deadline for receiving Hyundai models, or to shift to another brand.

Egypt’s automotive sector faces potential supply chain disruptions due to a supply shortage in semi-conductors. Meanwhile, there are other global developments as producers such as GM, Ford, and Stellantis have witnessed production cuts, due to shortages of semiconductor chips.


Categories : auto

Finance & Economy

Suez Canal starts dredging work to extend double lane

2021-05-16 08:00:00

CAIRO: The Suez Canal Authority (SCA) has started dredging work to extend a second lane that allows for two-way traffic in a southern"...
Read More

WB: Egypt fifth among world's most remit...
May 16, 2021
PMC Biogenix Announces Price Increase on...
May 15, 2021