Smary Land Transport Services, a subsidiary of Al Turki Holding Group, has announced the establishment of a joint venture with Raya Holding for Financial Investments to set up a specialized assembly plant for electric golf carts in Saudi Arabia. The partnership brings together Smary’s strong leadership and deep market presence in the Kingdom with Raya Holding’s extensive manufacturing and investment expertise through its electric mobility arm and portfolio company, Raya Auto.
This collaboration represents a strategic step toward expanding sustainable transportation solutions in the Saudi market, while reinforcing industrial localization and technology transfer across key economic sectors.
Establishment of a Local Assembly Plant
Under the joint venture, the two companies will establish a local assembly facility dedicated to electric golf carts. The project will also include the provision of comprehensive after-sales services, ensuring long-term operational efficiency and customer support across multiple sectors.
In addition to manufacturing capabilities, the initiative places strong emphasis on developing human capital by training and upskilling local talent. These efforts will directly serve sectors such as hospitality, tourism, construction, and urban development, where efficient and environmentally friendly transportation solutions are increasingly in demand.
Supporting Major Projects and Sustainable Development
The partnership aligns with the growing requirements of large-scale projects in Saudi Arabia that demand effective, low-emission mobility solutions. By localizing the assembly process, the joint venture is expected to contribute to job creation, facilitate knowledge and technology transfer, and strengthen domestic industrial capabilities.
The project aims to produce more than 3,000 electric golf carts over the next two years, addressing rising demand while supporting national objectives related to economic diversification and sustainable growth.
Smart, Connected, and Customer-Centric Solutions
Commenting on the partnership, Badr Al-Shathri, Chairman of Smary Land Transport Services, stated that the joint venture focuses on developing advanced products that can be managed and monitored through smart applications. These solutions integrate modern technologies with high-quality support services, ensuring a seamless and reliable customer experience.
He emphasized that the initiative reflects Smary’s long-term vision of delivering value-driven transportation solutions built on quality, innovation, and operational excellence, while meeting the evolving needs of clients across various sectors.
Expanding Raya Holding’s Regional Footprint
Ahmed Khalil, Group CEO of Raya Holding, described the partnership as a significant milestone in Raya’s regional expansion strategy. With this collaboration, Raya Holding now has four portfolio companies operating in the Saudi market, highlighting the Kingdom’s strategic importance within the group’s long-term growth plans.
He noted that the partnership demonstrates Raya’s firm belief in cross-market collaborations as a catalyst for creating tangible impact and sustainable value. The alliance also reflects Raya Holding’s appreciation for the trust placed in it by Al Turki Holding Group to jointly develop advanced mobility solutions within Saudi Arabia.
Leveraging Expertise Through Raya Auto
Through its specialized automotive and mobility arm, Raya Auto, Raya Holding is introducing a collaborative model that combines its expertise in sustainable mobility and innovation with Smary’s market leadership and operational experience in Saudi Arabia.
This integrated approach builds on strong foundations to support local vehicle manufacturing and deliver advanced mobility solutions tailored to the Kingdom’s future needs. The partnership positions both companies to play a meaningful role in shaping the next phase of transportation development in the Saudi market.
Alignment with Vision 2030 Objectives
The joint venture is closely aligned with the goals of Saudi Vision 2030, particularly in areas related to industrial localization, economic diversification, and sustainable growth. By establishing local assembly operations and developing local talent, the project contributes directly to enhancing local content and reducing reliance on imports.
Ahmed Khalil emphasized that the partnership underscores Raya Holding’s long-term commitment to the Saudi market and its determination to support national development priorities through innovation-driven investments.
Shaping the Future of Mobility in Saudi Arabia
Juan Carlos Azcona, CEO of Smary Land Transport Services, highlighted that the joint venture with Raya Auto focuses on shaping the future of mobility in Saudi Arabia. He reaffirmed the company’s commitment to delivering advanced, environmentally friendly transportation solutions that support the Kingdom’s sustainability agenda.
According to Azcona, the partnership represents a core pillar in Smary’s journey to introduce next-generation transport solutions that align with environmental goals and evolving urban mobility requirements.
Building on Proven Success in Electric Mobility
Mohamed El-Naggar, CEO of Raya Auto, expressed enthusiasm about the partnership, describing it as an extension of Raya Auto’s proven success in Egypt’s electric mobility market. Raya Auto has delivered comprehensive solutions across electric golf carts, electric buses, and electric vehicles, securing a leading market share through integrated business models.
By transferring this experience to the Saudi market, the joint venture will rely on product quality, operational efficiency, and a fully integrated model encompassing manufacturing, assembly, distribution, and after-sales services.
Setting New Standards for Sustainable Transportation
El-Naggar concluded that the ambition of the partnership is to establish new benchmarks for sustainable mobility solutions in Saudi Arabia. The initiative supports innovation, strengthens local content, and contributes to the development of smart cities, in line with the Kingdom’s long-term vision.
Through this collaboration, Smary and Raya Holding aim to deliver scalable, future-ready electric mobility solutions that meet the demands of modern infrastructure projects and reinforce Saudi Arabia’s position as a regional leader in sustainable transportation.