Nissan to ramp up Egypt carmaking in bid to boost Africa sales

Nissan plans a $45 million expansion of its car-manufacturing facilities in Egypt this year as it seeks to boost local output by a third and ramp up exports to the rest of Africa.

A new production line will see the Japanese automaker deliver at least 10,000 extra cars annually, with more than half of the components being made domestically, Africa Managing Director Mohamed AbdelSamad said in an interview.

A stepped-up presence in Egypt, where operating costs are relatively low, comes as Nissan cuts jobs and shutters plants elsewhere to minimize losses estimated at ¥275 billion ($1.7 billion) for the last financial year.