February 05, 2025

Raya Auto to build $50m EV plant in 2026

February 05, 2025

Egyptian EV company Raya Auto has announced plans to set up a $50 million assembly plant in the country in 2026. Half of the project cost is self-financed and the rest secured through bank loans. The automaker also plans to invest $25 million to build 30 fast-charging stations in Egypt over the next 3 years.

  • The Giza-based company, which was established with an initial investment of $8.3 million, makes electric golf carts, scooters and motorcycles. It currently runs a 10,000 square-metre assembly plant where it makes EVs.

  • Raya Auto has also been partnering with global automakers to introduce their brands in Egypt. In June 2024, the company partnered with Chinese carmaker XPENG to introduce its XPENG P7 sedan and XPENG G9 SUV to the Egyptian market.

  • Our take: Egypt has a fast-growing EV assembly industry, attracting significant capital from both local and foreign investors. Raya’s new plant, once completed, will increase Egypt’s EV production capacity… Read more (2 min)

DFSK, a joint venture between Chinese automakers Dongfeng Motor Corporation and Sokon Industry Group, has launched two cargo EVs in South Africa. The launch of the EC35 and EC31 EVs marks the company's continued expansion in the region. The company is planning to launch a further lineup of both EVs and ICEs.

  • The EC31 is a truck with a range of 215 km on a single charge. An AC charger can fully charge the truck for 7 hours while a DC charge can achieve the same in 30 minutes. The truck can carry a load of 1,280 kg and has a cargo length of 2,530 mm.

  • The EC35 van has between 2 and 5 seats and can carry loads of 1,090 kg. The van can travel a maximum of 268 km on a single charge and has a load space of between 3.1 and 4.8 cubic-metres.

  • Our take: The introduction of the EC31 and EC35 cargo vehicles cements South Africa’s position as a leading EV hub in Africa. The new models offer South Africans more options of EVs to choose from based on their needs… Read more (2 min)

Electric vehicle (EV) batteries are now 74% cheaper than they were five years ago. This decline is expected to lower the price of EVs not only in Africa but also globally, as the continent develops its local battery supply chain. Africa holds 30% of the world’s critical minerals, which are essential components in the manufacturing of EV batteries.

  • Although the price drop has been steady since 2015, when 1 kWh was retailing at $463, BloombergNEF projects it will fall further from the current $97/kWh to below $80/kWh by 2026.

  • However, Chinese original equipment manufacturers (OEMs) such as BYD and CATL currently retail batteries for as low as $56/kWh. These companies command more than 53% of the global EV battery market, and most EVs in Africa rely on their energy storage technology.

  • Our take: Africa's emerging EV battery industry presents an opportunity for early investors to localise production, reduce costs, scale, and compete globally. This will ultimately lower EV costs across the continent… Read more (2 min)

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Zakhele Mhlanga (third from left), CEO of Shovebike, posing with a team from Stroom e-Cargo bikes in South Africa

Events

🗓️ South Africa hosts Africa electric bus workshop (Feb 11)

🗓️ Senegal hosts International Motor Show (Feb 6)

🗓️ Algeria hosts Equip Auto Expo (Feb 17)

Jobs

👨‍🔧 Roam seeks a mid-senior commercial engineer for energy and EV charging (Kenya)

👷‍♂️ BasiGo seeks a vehicle service lead (Rwanda)

👨‍🔧 BasiGo seeks a vehicle service operations manager (Rwanda)

Various 

📚 Study finds out that South Africa can generate $832m from Li-ion battery manufacture

🏆 Roam receives Excellence in Sustainable Mobility Award

📈 BYD achieved a total monthly sales of 300,538 new energy vehicles in January 202

Seen on LinkedIn 

Abiero Origa, Manufacturing manager at Dodai, narrates that Ethiopian petrol stations should either transform into hybrid fuel-and-charging hubs or phase out completely in the future.

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