Introduction
Raya Auto, a subsidiary of Raya Holding for Financial Investments and a leading figure in Egypt's e-mobility sector, has unveiled a strategic battery supply partnership with Shift EV. Shift EV is an innovative startup specializing in battery manufacturing and fleet electrification. This collaboration will see Shift EV providing locally produced lithium-ion batteries to power Raya Auto’s light e-mobility products.
Pioneering Regional Alliance
The partnership between Raya Auto and Shift EV signifies the first regional alliance dedicated to deeply localizing electric mobility technology. This move aligns with Egypt's ambitions to broaden its industrial base. Both companies aim to extend their collaboration to a wide array of EV products over the coming years.
Leadership and Vision
Mohamed Elnaggar, CEO of Raya Auto, emphasized the company's dedication to delivering top-tier e-mobility products. "As a market leader, we are committed to providing premium e-mobility products and are always eager to deliver higher performance, quality, and functionality to our customers. 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," he stated.
Electrifying Mobility
Aly Eltayeb, co-founder and CEO of Shift EV, highlighted the strategic importance of this partnership for Shift EV. "Our mission is to electrify mobility, and partnering with Egypt’s largest e-mobility OEM is a strategic milestone for Shift EV. We are thrilled to form the first manufacturing alliance in MENA with innovation and full localization as a driving mission," he said.
Raya Auto: Leading the Light E-Mobility Segment
Founded in 2018, Raya Auto has established itself as the market leader in Egypt’s light e-mobility segment. With thousands of units delivered annually from its local production facilities, a nationwide distribution network, and comprehensive after-sales services, Raya Auto is a significant player in the industry. The company invests heavily in advanced car assembly capabilities, introducing cutting-edge electric vehicle technology, and enhancing electric mobility options in Egypt in collaboration with global industry leaders. Raya Auto is committed to providing an exceptional customer experience through reliable, eco-friendly, and efficient electric vehicle solutions, promoting the adoption of EVs, sustainability, and carbon emission reduction.
Shift EV: Fleet Electrification Pioneer
Shift EV stands at the forefront of fleet electrification in emerging markets and is the largest battery pack manufacturer in the MENA region. The company utilizes proprietary electro-fitting technology and in-house-designed battery packs to electrify fleets. Founded by veterans from the battery and automotive industries, Shift EV boasts a production capacity of 500 MWh per year. Its investors include leading firms like Union Square Ventures and Algebra Ventures.
Future Endeavors
Raya Auto recently announced a new partnership with XPENG, aiming to introduce a range of state-of-the-art electric vehicles with European specifications to the market. The launch of these vehicles is scheduled for the first half of 2024, further demonstrating Raya Auto’s commitment to innovation and growth in the e-mobility sector.
