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Saudi Arabia’s Waja, AOI to set up EV manufacturing JV in Egypt

Saudi Arabia’s Waja, AOI to set up EV manufacturing JV in Egypt

Saudi Arabia’s Waja, AOI to set up EV manufacturing JV in Egypt

Apr 22, 2024

Saudi Arabia’s Waja Company has sealed a framework cooperation agreement with the Arab Organization for Industrialization (AOI) to establish a joint venture (JV) for manufacturing electric vehicles (EVs) in Egypt, as per a disclosure to the Saudi Exchange (Tadawul).

The deal aims to meet Egypt’s local market demand for EVs, along with exporting abroad.