Raya discusses EV licensing regs with Egypt’s traffic authorities

Raya Auto is in talks with traffic authorities to clarify licensing regulations for electric motorcycles, CFO of parent company Raya Holdings Hossam Hussein tells Al Mal. The company is investing EGP 300 mn in the production of EVs, having recently inaugurated a second production line at its 6 October production facility. Raya’s EGP 100 mn light vehicle line has begun production, but sales are currently on hold due to the lack of a legal framework for licensing the vehicles, Hussein said.