Arab Finance: Raya Auto, a subsidiary of Raya Holding for Financial Investments, has sealed a strategic battery supply partnership with Shift EV, an electric mobility start-up, according to a statement.

As per the partnership, Shift EV will supply locally produced lithium-ion batteries and power Raya Auto’s light electric vehicles (EVs).

This collaboration marks the first regional alliance aiming for deep localization of electric mobility technology in Egypt to expand the country’s industrial base.

Both companies seek to expand their partnership over the coming few years, the statement read.

“Partnering with Shift EV as a technology partner for our products enables us to upgrade our premium products with lithium-ion batteries—proudly made in Egypt,” Mohamed Elnaggar, CEO of Raya Auto, commented.

“Our mission is to electrify mobility, and partnering with Egypt’s largest e-mobility OEM is a strategic milestone for Shift EV,” Aly Eltayeb, co-founder and CEO of Shift EV, stated.

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