الرئيسية / ENGLISH / “Raya Auto” has invested 200 million pounds to accumulate light transportation
Raya Auto
Raya Auto

“Raya Auto” has invested 200 million pounds to accumulate light transportation

In line with the directions of the political leadership of the Egyptian state towards expanding

the use of electric cars, localizing their manufacture and increasing the local component

in the manufacturing system, Raya Auto, one of the subsidiaries of the Raya Holding Group

for Financial Investments, announced  its strategy is in line with the trends of the state and

the global trend in the transformation from the use of fuel (petrol, solar)to clean energy

such as electricity. From this standpoint, Raya Holding for financial investments has invested

more than 200 million pounds in Raya Auto factory to collect light transport, including electric vehicles,

as the current production capacity of Raya Auto plant in the 6th of October City reaches 20 thousand

vehicles annually. In addition, there is an ambitious plan to double these numbers during the New Year.

The current production volume is in the range of 5000 vehicles, while the number

of direct workers in the factory today reaches 80 workers. The percentage of local manufacturing

, according to the laws that are organized and announced by the Ministry of Industry,

is 45%. According to the plan established with the Ministry, it is expected that by

the end of 2021 we will reach the percentage required.

Mohamed El-Naggar, CEO of Raya Auto, confirmed that Egypt has begun to

take great steps in manufacturing electric cars in cooperation between the government

and the private sector with the aim of settling this industry and protecting the environment

from negative environmental impacts. The added value is reflected in stimulating the

purchase and use of electric cars to preserve the environment and provide (subsidized) fuel.

He pointed out that there are a number of advantages as a result of relying on electric vehicles,

represented by the consumer in saving fuel and low maintenance costs. In addition,

reducing the cost of importing petroleum products for the state in numbers reaching billions of pounds,

creating a new industry locally, reducing vehicle prices and opening more areas

for electric shipping stations and providing new job opportunities.

El Naggar mentioned that the size of the local market accommodates at

least 350 thousand motorcycles (gasoline) annually, and in the event that the state

finishes issuing the law on licensing and the spread of appropriate infrastructure,

we expect a gradual shift from gasoline-powered bicycles to electricity.

The return on the environment is regarding reducing emissions from

vehicles that operate on standard fuels (gasoline, solar), indicating that,

based on the instructions of the President of the Republic, the laws relating

to the licensing of electric vehicles, the spread of charging stations and the setting

of a freight tariff are expected to be completed within the next short period.

El Naggar continued that it is important for Egypt to keep pace with

the global development in the field of vehicle industry in order to remain in the ranks

of countries accompanying the technological development to preserve the environment.

This indicates that the direct economic return for the localization of the electric

vehicle industry is to save fuel consumption and provide hard currency as well as support.

This allows the average cost of one kilometer in electric vehicles to not exceed 40% of that of gasoline.

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