(Ecofin Agency) - Nissan Egypt will increase its yearly production capacity by 6,000 new cars to reach 28,000 units, Peyman Kargar, president of Nissan Africa, announced in an interview with Bloomberg.

The firm expects to raise its market share in the Arab country from 15% to 20% by 2022 thanks to this investment.

Despite its population estimated at more than 100 million residents, Egypt’s auto sector is still largely under-exploited. Recently, investments have been made to boost local production. These investments led to a 26% rise year on year of the production in H1, 2018.

Nissan Egypt’s new investment, with an undisclosed amount, will complement the $200 million it invested in the country since 2005.

Nissan Egypt, which is the third largest investor in the Egyptian auto market, also announced new investments for April 2019.

Moutiou Adjibi Nourou