S. Arabia’s WAJA, AOI partner to build EVs in Egypt

Saudi Arabia’s WAJA signed a significant partnership with the Arab Organisation for Industrialisation (AOI) to establish a joint venture focused on electric vehicles (EVs) in Egypt, the company reported on Sunday.

This strategic agreement marks a pioneering move for both entities, aiming to boost innovation, technological advancement, and environmental sustainability in the region.

The announcement aligns with Saudi Arabia’s Vision 2030 goals, which emphasis diversification and technological leadership, as per the statement.

The joint venture will focus on manufacturing and producing electric vehicles specifically tailored to meet the needs of the Egyptian market, while also exploring export opportunities to global markets.