Saudi Waja Group to manufacture EVs in Egypt: Saudi multi-industry outfit WajaGroup will form a joint venture with the Arab Organization for Industrialisation (AOI) to produce EVs in Egypt under a framework agreement both parties signed, according to statements issued here and here. This appears to be Waja’s first venture in Egypt.

The agreement will see the two sides launch a new JV to produce, sell, and market EVs for local consumption “at competitive market prices,” with a focus on potential exports to other Arab and African countries.

What we don’t know: There’s no publicly available information about the potential capital of the new JV, and the production capacity of the project. Waja boasts a portfolio of three companies working in the construction, communication, and IT sectors, but it is unclear how its expertise will be leveraged within the scope of this project.

The first phase of manufacturing will unfold at one of AOI’s existing factories and phase two is set to kick off once the JV’s new facility is ready to go online.

ALSO IN AUTOMOTIVE NEWS- Al Mansour Auto to expand MG line in 2025: Al Mansour Automotive is aiming to kick off production of a new MG model in 1Q 2025, with investments amounting to USD 20 mn, according to a cabinet statement citing company CEO Ankush Arora. The production line will create some 5k direct and indirect jobs, it added.

Also in the pipeline: Al Mansour in the final stages of announcing two more projects to produce two new models — a sedan and a high-top minibus — with an investment of USD 15 mn, the statement added. Production on both of those is pegged for the end of next year.

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