Volvo’s parent Geely to build $170 million joint factory in Vietnam. Credit: Geely
Chinese automaker Geely has opened its first completely knocked down (CKD) factory in Africa and the Middle East, with plans to produce up to 30,000 vehicles annually within the next three years, according to local media outlet Egypt Today. The opening ceremony was attended by Egyptian Prime Minister Mostafa Madbouly, who expressed hope that Egypt could become a major export hub for Geely. The facility is expected to meet local demand and serve other countries in Africa and the Middle East. The new plant, located in Egypt, has begun assembling Emgrand sedans and Coolray crossovers, according to Song Jim, a vice president of Geely Auto Holding Group, as reported by Xinhua News Agency. [Egypt Today, Xinhua, in Chinese] [Egypt Today, Xinhua, in Chinese]
