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Waja Group is setting out to manufacture EVs in Egypt under a framework agreement signed with the Egyptian government-owned automaker Arab Organization for Industrialisation (AOI), according to two separate statements here and here. This appears to be Waja’s first venture in Egypt.
What we don’t know: There’s no publicly available information about the size, ownership split, brand portfolio, or production plans of the JVs. 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 agreement will see the business partners launch a new JV to produce, sell and market EVs for local consumption “at competitive market prices,” in Egypt along with a focus on potential exports to other Arab and African countries.
The first phase of manufacturing will unfold at one of AOI’s existing factories in Egypt, and phase two is set to kick off once the JV’s new facility is ready to go online.
IN CONTEXT- The AOI assembles Jeep vehicles and produces everything from home appliances to license plates, plastic and woven products. It is also involved in megaprojects including Egypt’s railway upgrade and water treatment plants.
