GB Auto and Bajaj to start producing tuk-tuk and motorcycle parts locally
GB Auto (AUTO.CA) and India’s Bajaj Auto Company will begin manufacturing three wheelers (tuk-tuks) and motorcycle components in March or April 2016 according to GB Auto’s CIO Menatalla Sadek. The company is still, however, waiting for the unified automotive manufacturing law to determine the vehicles' mandatory local component proportion. In November 2015, chief officer Raouf Ghabbour announced that the new factory’s production capacity will be 120,000 tuk-tuks and motorcycles per year. (Daily News Egypt) GB Auto: EGP2.30 as of 14 February 2016, Rating: Buy, FV: EGP5.00 per share, MCap: USD322 million, AUTO EY / AUTO.CA
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