Raya Auto, a subsidiary of Raya Holding Company, intends to establish a factory to collect electric cars locally at an investment cost of 50 million dollars by 2026, according to the company's CEO, Mohamed Al -Najjar, to the Economy Economy website.
The new project will be implemented in partnership with a Chinese company, provided that half its cost is funded through self -resources and the rest through bank loans, according to the carpenter, who also revealed that his company is planning to invest $ 25 million to establish 30 fast shipping stations in the country during the next three years.
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