Cherie Bianca

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Bali

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Raya Auto to set up USD 50 mn EV assembly plant next year

The plant will be developed in partnership with an unnamed Chinese company, with half of the project cost self-financed and bank loans.

The two-day exhibition brought together approximately 55 companies from 10 countries, including a notable representation of 26 Turkish companies.

The project, now in its fifth year, is overseen by the Cotton Trading and Ginning Company, a subsidiary of the Holding Company for Cotton.

The new assembly line at Giza will focus on assembling popular TVS Motor models such as the TVS Apache RTR Series, TVS HLX Series, and TVS XL 100.

As part of its 2024-2027 government programme, Egypt seeks to localize its industry and strengthen its industrial capabilities.

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