Raya Holding is quietly building a serious footprint in Saudi Arabia, and its latest move is less about headlines, more about infrastructure.

The Egyptian investment group has announced a new joint venture between Raya Auto and Samara Land Transportation Services Company, a subsidiary of Alturki Holding, to locally assemble, distribute, and service electric mobility solutions across the Kingdom. The partnership was signed in Dhahran, marking another step in Raya’s expanding Saudi strategy.

But this isn’t about selling EVs to consumers.

It’s about solving a very specific challenge inside Saudi Arabia’s giga-projects.

Mobility inside giga-projects is becoming its own market

As developments like NEOM, Diriyah, Red Sea Global, ROSHN, and Qiddiya move from construction to operations, one challenge keeps coming up: how do you move people efficiently across massive, master-planned destinations?

Shuttles, internal transport loops, staff mobility, service fleets, these aren’t “nice to have” anymore. They’re core infrastructure. And that’s the market Raya and Alturki are targeting.

The new JV will focus on the local assembly of electric golf carts, with production expected to exceed 3,000 units over the next two years, serving the hospitality, tourism, construction, and urban development sectors. Over the longer term, the platform is designed to scale into broader electric mobility applications as giga-projects expand and mature.

Commenting on the operational scope, Mohamed El-Naggar, CEO of Raya Auto, said, “With this joint venture, we are bringing the same model to Saudi Arabia, combining product excellence, operational expertise, and a full-service approach covering manufacturing, distribution, and aftersales.”

Localization is the real headline

What makes this partnership notable isn’t just the EV angle; it’s the emphasis on local assembly, after-sales, and workforce development.

Rather than relying on imports, the JV aims to establish an end-to-end electric mobility platform in Saudi Arabia, covering localized assembly, maintenance, and comprehensive after-sales support. The model is closely aligned with Saudi Vision 2030, particularly its focus on industrial localization, technology transfer, and sustainable economic growth. 

Ahmed Khalil, Group CEO of Raya Holding, said the partnership “reinforces our long-term commitment to the Saudi market and aligns closely with the Kingdom’s Vision 2030 objectives for industrial localization and sustainable economic growth.”

In practical terms, this means giga-projects get more than vehicles. They get reliable uptime, on-ground servicing, and long-term operational support, factors that matter far more than specifications once projects begin welcoming visitors at scale. 

A complementary partnership

The logic behind the JV is straightforward.

Raya Auto brings experience in electric mobility, integrated manufacturing, and after-sales services, building on its track record in Egypt across golf carts, e-buses, and EVs. Samara, under Alturki Holding, contributes operational scale and deep market presence in land transportation services inside Saudi Arabia.

Bader AlShathry, Chairman of Samara Land Transportation Services Company, said, “In this partnership, we are advancing a ‘Saudi-assembled’ standard that integrates seamless connectivity with best-in-class after-sales support. By prioritizing local assembly and premium service, we aim to deliver a quality-led customer experience that reflects our values and long-term vision.”

Together, they’re positioning the venture as a mobility operator and solutions provider, not just a vehicle supplier, a distinction that matters when customers are planning multi-billion-dollar developments decades ahead.

Part of a bigger Saudi push

This deal also fits into a broader pattern.

Raya Holding has been active in Saudi Arabia for more than two decades through businesses like Raya Information Technology and Raya CX, and it recently expanded into consumer finance through Aman, which partners with leading Saudi retailers, including Jarir and Al Manea. 

With this latest move, Raya now has four portfolio companies operating and expanding in the Kingdom, underscoring Saudi Arabia’s central role in the group’s expansion strategy.

Khalil described the partnership as “an important step in Raya Holding’s regional expansion journey, with four of our portfolio companies now operating in the Kingdom,” adding that it reflects the group’s “strong belief in cross-regional partnerships that create tangible impact and long-term value.”

What to watch next

As with most early-stage JV announcements, key execution details are still to come, including expansion timelines beyond golf carts, vehicle categories, and confirmed customer contracts. Those will determine whether this becomes a meaningful industrial platform or a narrowly focused services operation.

Still, the direction is clear.

Saudi Arabia’s giga-projects aren’t just creating demand for hotels, attractions, and real estate. They’re creating an entirely new market for behind-the-scenes mobility infrastructure, and Raya is positioning itself early, locally, and at scale.

That’s a bet worth watching.