L-R: Adel Nassar, Minister of Trade and Industry; Mostafa Kemal Madbouly, prime minister of Egypt; Markus Schäfer, member of the Daimler AG Board of Management for Group Research and Mercedes-Benz Cars Development and Jörg Burzer, Executive Board member Mercedes-Benz Cars, Production and Supply Chain.

Mercedes-Benz Cars and the Egyptian government have signed a Memorandum of Understanding for local assembly of Mercedes-Benz passenger cars in Egypt. The aim is to further improve the market position of Mercedes-Benz Cars in Egypt.

"Egypt has been an important market of Daimler for passenger cars, busses and commercial vehicles for many years. In the long term, we create various potential for the country and the region through strategic cooperation for mobility topics. Thereby we contribute to stabilising the economic environment," says Markus Schäfer, member of the Daimler AG Board of Management for Corporate Research and Mercedes-Benz Cars Development.

The MoU not only describes a local Mercedes-Benz passenger car assembly, but also contains other potential fields of cooperation. The assembly will be set up by a local business partner. It also emphasises the involvement and know-how of Egyptian suppliers.

"In building up a local car assembly, we will be able to structure our production network even more flexibly and efficiently and respond even better to the needs of our customers," says Jörg Burzer, Executive Board member Mercedes-Benz Cars, Production and Supply Chain.

In view of the long-term market potential, the German carmaker says further investments are also conceivable, for example expansion of the dealer network, a logistical hub in the Suez Canal Special Economic Zone and a training centre. Furthermore, the company has offered to make its specialist expertise with respect to modern mobility concepts, e-mobility and electric vehicles, as well as autonomous driving, available.

With the planned car assembly operation in Egypt, Mercedes-Benz Cars is supporting Egypt as an industrial location. It already has covers more than 1,000 direct and indirect jobs in Egypt with its own import and sales organisation, a central spare parts warehouse and numerous authorised retailers and workshops in Cairo, Gizeh, Alexandria and Hurghada.

Mercedes-Benz Egypt, a wholly-owned subsidiary of Daimler AG, is the exclusive sales partner of Mercedes-Benz Cars for Mercedes-Benz passenger cars and replacement parts in Egypt. The company has been in operation since 1999. At present the Mercedes-Benz dealer network consists of authorised sales and after-sales companies in Cairo, Gizeh, Alexandria and Hurghada.

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Mercedes-Benz delivers 195,690 vehicles globally in May, down 1.3%