Saudi Arabia’s Waja Company has signed a framework cooperation agreement with the Arab Organisation for Industrialisation to set up an electric vehicle (EV) facility in Egypt.

The manufacturing plant will meet local market demand and cater to export markets, the company said in a statement to the Saudi stock exchange on Sunday.

No other details were given.

In October 2023, Egypt was ranked 28th in a global e-mobility index, which reveals the country’s readiness to transition to EVs, Egypt Today newspaper reported, citing US consulting firm Arthur D. Little.

(Editing by Anoop Menon) (

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