(MENAFN) Egyptian auto company Mansour Automotive Group penned a deal with Chinese auto industry SAIC Motor to establish a joint venture.
Through the JV, as per the agreement, the two companies are looking to produce MG brand vehicles within Egypt.
SAIC Motor set up at first an automotive industry chain for research and development, manufacturing, marketing and logistics as well as funding into an international market.
Chairman Chen Hong stated: "this time, the Mansour Group has joined forces. SAIC's new products, technologies and models will be actively introduced into the Egyptian market to provide local people with more high-quality localized products and services."