Arab Finance: Raya Auto, a subsidiary of Raya Holding for Financial Investments, has partnered with Chinese-based electric vehicle (EV) manufacturer XPENG to become its exclusive agent in Egypt, as per an emailed press release.

Aligned with the Egyptian government’s efforts towards localizing the EVs industry, this marks the first-of-its-kind partnership in Africa.

The partnership aims to introduce a range of advanced EVs that comply with European standards to the Egyptian market during the first half (H1) of 2024 exclusively through Raya Auto.

Under this collaboration, Raya Auto is set to invest in the EV manufacturing sector in the fiscal year (FY) 2024/2025.

This is in addition to introducing the G9, G6, and P7i advanced XPENG cars with a capacity ranging between 500 and 700 kilometers per single charge.

Moreover, after-sales services will be provided through three main service centers across Cairo.

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