Ghabbour family’s GB Corp plans $6 million Hyundai facility in Egypt

GB Corp., the Cairo-based automaker owned by the family of the late Egyptian auto magnate Raouf Ghabbour, plans to invest $6 million to assemble a new Hyundai model, with production set to begin in the second quarter of 2026. As Hyundai’s exclusive agent in Egypt, the move highlights its commitment to growing in the local automotive market.

The new assembly project comes as demand for locally produced vehicles rises, driven by currency fluctuations and a growing interest in mid- and high-end models. For GB Corp, the new assembly project continues its long-standing collaborations with global carmakers and underscores its commitment to serving the evolving needs of Egyptian drivers.

Driving Egypt’s auto industry

GB Corp operates across six sectors, including passenger cars, motorcycles, trucks, construction equipment, and tires. Its financial arm, GB Capital, offers a wide range of non-banking services, complementing the group’s industrial footprint.

In addition to Hyundai, the company holds exclusive rights to brands such as Mazda, Chery, Changan, Haval, Bajaj, Volvo, Iveco, and Mitsubishi Fuso, giving it a key role in Egypt’s $6.15 billion auto market—one of the largest in North Africa and the Middle East.

Beyond vehicle sales, GB Corp has built a strong presence in financial services through subsidiaries such as Bedaya, Kaf, Drive, and the Forsa app. These platforms support leasing, microfinance, factoring, consumer finance, securitization, and digital payments.

By combining automotive expertise with financial services, GB Corp has become a consistent and influential player in both Egypt’s industrial and financial sectors.

Hyundai investment signals market confidence

Founded in 1985 by Raouf Ghabbour, GB Corp has grown into one of Egypt’s leading car companies. The Ghabbour family holds a 62.9 percent stake, making them among the country’s wealthiest investors listed on the Egyptian Exchange. Headquartered in Greater Cairo, the company also maintains operations in Iraq and other regional markets.

The $6 million Hyundai investment highlights the company’s confidence in the local market, even in the face of inflation, import hurdles, and supply chain challenges. For the Ghabbour family, the aim is clear: maintain production within Egypt, broaden market share, and strengthen GB Corp’s position as a key player in the country’s automotive industry.