Egyptian billionaire Naguib Sawiris’s company, Orascom Investment Holding, has entered into a strategic partnership agreement with BluEV, which specializes in information technology and transportation engineering.
The partnership aims to transform the transport sector globally into an environmentally friendly and affordable industry using the BluEV network, smart battery exchange stations, and an integrated digital platform.
The collaboration aligns with Orascom Investment’s vision and resources and the National Climate Change Strategy 2050, launched before the United Nations Conference COP27.
Sawiris, the executive chairman of Orascom Investment Company, said the partnership aligns with the company’s investment strategy, which focuses on sectors that create opportunities for economic growth, societal transformation, and positive intra-influence.
Sawiris emphasized that the partnership provides a practical and viable solution to transform the transport sector in Egypt and the region into one that is environmentally friendly and affordable, reducing the burden of high fuel prices on users.
The model is similar to the commercial model of mobile phone networks.
Sawiris is confident in his company’s ability to introduce and consolidate this business model in Egypt and the region.
BluEV CEO Reda Baalbaki added that Orascom is an investor and strategic partner of BluEV, bringing the company closer to achieving its goal of electrifying light transportation. He emphasized the two parties’ shared vision on how to restructure the transport industry in general, making this partnership an exciting journey full of fruitful work.
Orascom Investment Holding was established in 2011 under the leadership of Sawiris to focus primarily on the telecom, media, and technology spheres. Since then, the company has diversified its portfolio to operate in sectors where it sees opportunities for high growth, transformation, and community impact.
The partnership between Orascom Investment Holding and BluEV is expected to impact the global light transport industry significantly, driving green transformation and sustainable development. With Orascom Investment’s resources and BluEV’s expertise, the collaboration is poised to introduce an innovative solution to transform the industry for the better.
