The Arab Organization for Industrialization (AOI) and Toyota Egypt have launched together a production line for the Toyota Fortuner, with a production capacity of 3,000 cars annually. Local components represent 47% of the car.
Lieutenant General Abd El Aziz Seif El Deen, the chairperson of AOI, said that the organization has been in partnership with Toyota for several years. It has an advanced technological base and technical staff that makes it able to accommodate the latest technology and manufacture developed high-efficiency products.
Mohamed Anis, chairperson of Arab American Vehicles (AAV), an affiliate of the organisation, said that the company applies global systems in the factory in order to increase the quality of manufacturing based on global standards. He said that several tests were carried out inside and outside Cairo for distances of 5,000 km in the presence of Japanese experts in April for the car’s initial samples.
Anis added that the production capacity of the new line as a first phase will range between 2,000-3,000 cars annually.
He expected the price of the new Toyota Fortuner to reach EGP 1m with the increased cost of import and the increase in the value of the customs dollar.
Ahmed Monsef, Toyota Egypt’s CEO, said that 2012 witnessed the Toyota Fortuner topping the list of four-wheel drives in less than six months, with 26.3% of the market share internationally.
“The Toyota Fortuner is the first Japanese car assembled in Egypt, despite the economic circumstances and the increase of the exchange rate and production components’ prices,” he said.
He added that the company seeks to maintain its place in the Egyptian market by injecting more investments into the production of the Toyota Fortuner.
Monsef said that assembling this kind of car in Egypt shows the commitment of Toyota towards its role in the Egyptian industry and the confidence in the abilities of AAV for global quality.
He added that the new Fortuner will be available with two engines, the first with a capacity of 2.7 litres and 164 horsepower, as well as an automatic transmission gear with six speeds. The second is a four-cylinder V-engine with a 4.0-litre capacity and 235 horsepower.
Seif El Deen added that the percentage of local components reached 47.1% and is sought to be increased based on the state’s strategy, which aims to increase local components in products and decrease imports in order to result in a decreased need for dollars.
About 14 factories are taking part in the production of the components of the new generation of the Toyota Fortuner, including seats, glass, air conditioners, exhaust pipes, and other parts.