Shenzhen — China-based vehicle manufacturer BYD has said that it plans to expand and increase its business in Egypt, denying reports about its exit from the Egyptian market.
Marketing Manager in Africa and Middle East at BYD, Yeung Jing, told Daily News Egypt that BYD intends to start car manufacturing in Egypt by the end of this year or by the beginning of 2024.
He added that BYD is going to establish approximately three showrooms, including one in the New Administrative Capital.
He noted that the UAE is the biggest importer of BYD cars in the Middle East.
Another official at the company disclosed that BYD stopped manufacturing cars that use diesel since 2022 and the company began to take a new path to protect and preserve the environment using electric cars and trains.
When asked about the possibility of exporting electric cars to Egypt, another official said that this depends on the market demand.
BYD was founded in February 1995, and after more than 20 years of fast growth, the company established over 30 industrial parks worldwide and has a significant role in industries related to electronics, automobiles, new energy, and rail transit.