Egypt's GB Auto to assemble Geely autos

GB Auto, Egypt's biggest listed automobile assembler, said on Tuesday it had agreed to assemble passenger cars provided by Hong Kong-based Geely Automobile Holding Ltd and begin distributing Geely cars in North Africa.

The two companies signed a cooperation agreement under which GB Auto would assemble cars in Egypt using kits supplied by Geely, it said in a press release. The cars would contain local Egyptian content as well.

"GB Auto will distribute Geely passenger cars in select high-growth markets across North Africa, starting with the launch of two models in Egypt in the second quarter of this year," it said.

The Egyptian company said it would begin locally assembling Geely cars in the third quarter of this year.

It would also support Geely's franchise with a new dealer network and will start offering after-sales services for the existing Geely owners in Egypt, it said.