Sep. 14, 2012 (China Knowledge) - China's largest privately-owned carmaker Zhejiang
Geely Holding plans to launch a new model in the Egyptian market next month and expected the new plant in the Arab country to be completed by the end of this year, said Yang Xueliang, a senior official with the Chinese auto maker.
Egypt will be the ninth Arab country Zhejiang Geely has entered, after Saudi Arabia, Iraq, Algeria, Lebanon, Jordan, Syria and Oman and Kuwait.
The company has selected GB Auto, the largest auto sales company in northern Africa, to assemble Geely-branded vehicles in Egypt in the form of completely knocked-down (CKD).
Zhejiang Geely also plans to build plants in Brazil, India and Iran. The company already has assembly plants in Russia, Ukraine, Indonesia, Sri Lanka and Ethiopia. The assembly plant in Uruguay will be completed early next year with a capacity of 20,000 units.
In the first eight months of this year, the Chinese company saw its auto exports soar 205% YoY to more than 57,000 units, of which over 24,000 units were to Arab nations.
The firm expected its auto exports to exceed 80,000 units this year, more than the 50,000 target it set at the beginning of this year.