Strategic Partnership Between Raya Auto and Shift EV to Boost Electric Vehicle Industry in Egypt
Raya Auto, a subsidiary of Raya Holding for Financial Investments, has announced a strategic partnership with Shift EV, a company specializing in manufacturing batteries and converting internal combustion engine vehicles to electric ones. The partnership aims to supply locally manufactured lithium-ion batteries to power Raya Auto’s range of light electric vehicles.
This collaboration marks the first of its kind in the region, supporting the localization of electric transportation technology in Egypt. The partners plan to expand the scope of their cooperation in the near future to include a broader range of electric vehicle products.
Mohamed El Naggar, CEO of Raya Auto, emphasized the company’s commitment to delivering high-quality electric transportation products. He noted that the collaboration with Shift EV would significantly enhance the performance, quality, and functional capabilities of their products, highlighting the importance of locally manufactured batteries in supporting their electric vehicles.
Ali El Taib, co-founder and CEO of Shift EV, highlighted the significance of this partnership in achieving a shift towards electric transportation solutions in Egypt. He expressed his satisfaction with establishing the first industrial partnership of its kind in the Middle East and North Africa, viewing it as a strategic step for Shift EV and emphasizing their commitment to innovation and complete industry localization.
Raya Auto, a leader in electric transportation solutions in Egypt, was established in 2018 and produces thousands of vehicles annually from its facilities within the country. The company also offers after-sales services through its centers across the nation.
Raya Auto invests in vehicle assembly and the introduction of electric car technology solutions in the Egyptian market in collaboration with industry leaders worldwide. The company aims to promote the use of electric vehicles in Egypt, support sustainability, and reduce carbon emissions by providing reliable, environmentally friendly, and efficient transportation solutions.
Shift EV specializes in converting vehicles from internal combustion engines to electric power and is the largest battery manufacturer in the Middle East and North Africa. The company was founded by experts in batteries and automobiles, with an annual battery production capacity of 500 megawatt-hours. Notable investors in Shift EV include Union Square Ventures, and Algebra Ventures, among others.
It is worth noting that Raya Auto recently announced a strategic partnership with XPENG to introduce a range of advanced electric vehicles with European specifications, which is expected to be launched in the first half of this year.
This partnership between Raya Auto and Shift EV represents a significant step towards enhancing local industry and clean technology in Egypt, contributing to sustainable development and reducing reliance on fossil fuels.
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