El-Araby El-Sewedy and ROX Global Launch ROX ESI Egypt as First Direct Investment
El-Araby El-Sewedy for Investments (ESI) has announced the launch of ROX ESI Egypt, a strategic partnership with ROX Global, a leader in technology and artificial intelligence operating in over 40 countries. This marks the first direct presence of ROX in the Egyptian market as a partner and shareholder, reflecting Egypt's strategic importance in the company's regional and global expansion plans.
Partnership Details and Signing Ceremony
The partnership agreement was signed at the Abdeen Palace, attended by Mohamed Farid Saleh, Minister of Investment and Foreign Trade; Khaled Hashem, Minister of Industry; Hesham El-Araby, Chairman of the Board; Ahmed El-Sewedy, Board Member of ESI Group; and Jarvis Yan, CEO of ROX Global. The agreement was signed by Mohamed Saleh, CEO of ESI Group, and Harry Wang, Head of Finance at ROX, with a gathering of decision-makers, business leaders, and investors.
Ambitious Investment and Manufacturing Goals
ROX ESI Egypt represents the first direct investment by ROX through "ROX Abu Dhabi," the company's global headquarters, making the partnership the official direct representative and manufacturer for the parent company in Egypt. The alliance aims to establish Egypt as a strategic regional hub for production, logistics, and smart mobility technology localization, reshaping the investment and automotive landscape in the region.
Expansion into Luxury Electric Vehicle Manufacturing
ROX plans to expand into regional markets to become the first entity in Egypt to manufacture smart luxury electric vehicles, moving beyond traditional assembly to actual development of the local components and automotive supply chain. This enhances the project's long-term economic returns and contributes to building an integrated and sustainable production ecosystem.
Investment and Future Production
The partnership between ESI and ROX Global targets manufacturing ROX vehicles with a total value of up to $500 million through the group's production lines in Egypt, with production set to begin in 2027. The first phase aims to produce 5,000 vehicles to meet local and regional demand, reinforcing Egypt's position as a regional manufacturing and export hub.
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