CAIRO – 10 April 2018: Raya holding announced on Tuesday a project to assemble and manufacture tuk-tuks (three-wheeled-vehicles) and Vespa motorcycles, with initial investments of LE 100 million.
The project will be executed in cooperation with Italian motor vehicle manufacturer Piaggio.
The factory will start off with producing 30,000 vehicles and aims to manufacture 200,000 vehicles in two years, with an eye to export to Africa, Chairman of Raya Medhat Khalil said.
Usama Zaki CEO of BariQ said in a press conference on Tuesday that the factory will manufacture three products, some of which will be directed to Egypt’s low-income areas.
Some other products will be directed to the tourism sector and transportation of goods,
Zaki said, adding that Raya will increase the percentage of the local component in manufacturing to 40 percent in two years.
Zaki said that the new traffic law will licence tuk-tuks.
Tuk-tuks started running on Egypt’s streets unlicensed for years, but the government has taken steps recently towards licencing the three-wheeled-vehicles and integrating them into the traffic system.
Raya inaugurated on Tuesday a 10,000 meters factory in 6 October city, which will start in assembling tuk-tuks and Vespa.