By Nathan Allen
Daimler AG (DAI.XE) said Monday that its Mercedes-Benz brand has signed a preliminary agreement with Egypt's government to set up a vehicle-assembly plant in the country.
Mercedes-Benz will operate the plant with a local partner, the company said.
"In view of the long-term market potential, further investments are also conceivable," the company said, suggesting an expanded dealer network or a logistics hub as potential developments.
Mercedes-Benz didn't provide details on the timeline of its planned investment.
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