{"id":618893,"date":"2024-04-22T00:00:00","date_gmt":"2024-04-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/22\/waja-group-ventures-into-the-ev-industry-in-egypt-in-partnership-with-arab-organization-for-industrialisation-plus-al-mansour-to-expand-mg-range\/"},"modified":"2024-04-22T00:00:00","modified_gmt":"2024-04-22T00:00:00","slug":"waja-group-ventures-into-the-ev-industry-in-egypt-in-partnership-with-arab-organization-for-industrialisation-plus-al-mansour-to-expand-mg-range","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/22\/waja-group-ventures-into-the-ev-industry-in-egypt-in-partnership-with-arab-organization-for-industrialisation-plus-al-mansour-to-expand-mg-range\/","title":{"rendered":"Waja Group ventures into the EV industry in Egypt in partnership with Arab Organization for Industrialisation. PLUS: Al Mansour to expand MG range"},"content":{"rendered":"

Saudi Waja Group to manufacture EVs in Egypt:<\/strong> Saudi multi-industry outfit Waja<\/a>Group<\/a> will form a joint venture with the Arab Organization for Industrialisation (AOI)<\/a> to produce EVs in Egypt under a framework agreement both parties signed, according to statements issued <\/a>here<\/a> and <\/a>here<\/a>. This appears to be Waja\u2019s first venture in Egypt. <\/strong><\/p>\n

The agreement will see the two sides launch a new JV to produce, sell, and market EVs<\/strong> for local consumption \u201cat competitive market prices,\u201d with a focus on potential exports to other Arab and African countries. <\/p>\n

What we don\u2019t know: <\/strong>There\u2019s 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.<\/p>\n

The first phase of manufacturing will unfold at one of AOI\u2019s existing factories <\/strong>and phase two is set to kick off once the JV\u2019s new facility is ready to go online.<\/p>\n

\n

ALSO IN AUTOMOTIVE NEWS- Al Mansour Auto to expand MG line in 2025: <\/strong>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<\/a> citing company CEO Ankush Arora. The production line will create some 5k direct and indirect jobs, it added. <\/p>\n

Also in the pipeline: <\/strong>Al Mansour in the final stages of announcing two more projects to produce two new models \u2014 a sedan and a high-top minibus \u2014 with an investment of USD 15 mn, the statement added. Production on both of those is pegged for the end of next year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The business partners are looking to set up a JV<\/p>\n","protected":false},"author":1,"featured_media":618894,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7339],"tags":[144,72,356],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-automotive","tag-automotive","tag-enterpriseam","tag-evs","wpautop","entry"],"acf":{"mongo_id":"ee0cb57a-dbd6-4353-9fe3-6dfee861c320","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1430.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Waja Group ventures into the EV industry in Egypt in partnership with Arab Organization for Industrialisation. 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The agreement is intended to help meet the increasing demand for gigabit broadband.","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587091,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/22\/alameda-plans-usd-50-mn-hospital-in-new-assiut-plus-mercedes-evs-aibank-tunisian-manufacturer-eyes-egypt\/","url_meta":{"origin":618893,"position":3},"title":"Alameda plans USD 50 mn hospital in New Assiut. 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