(Yicai Global) June 18 -- Shanghai-based SAIC Motor Corporation held a signing ceremony with Mansour Automotive Group, Egypt's largest car seller for the set up of a joint venture firm in Cairo yesterday. The move marks the Chinese automotive industry leader's official expansion into the African market, CRI Online reported.

The two wll also set up a JV manufacturing company to produce SAIC Group's own MG brand products for Egypt, Central and North Africa.