Erayak Power Solution Group Inc. Initiates Plans to Expand into the Middle East and South Asia
- Plans to expand business operations and distribution in the Middle East and South Asia
- Considerable demand in the region
- Tremendous growth opportunities in these markets
- None.
Wenzhou, China, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Erayak Power Solution Group Inc. ("Erayak" or the "Company") (Nasdaq: RAYA), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, is pleased to announce that it has plans to expand its business operations and distribution within the Middle East and South Asia.
The Company is currently in the planning stages to begin construction of a warehouse in the Middle East and is working to build relationships with wholesalers in the region. The demand in this area is strong with growing economies and well-developed consumer markets. The management plans to institute a complete market study and investigation beginning in September with more details to be announced upon completion.
Additionally, Erayak plans to establish an office and a warehouse near Lyallpur Galleria in Faisalabad, Pakistan. The Company has already hired five local employees to run regional operations and has begun collaboration with local wholesalers, with an initial shipment of trial products that resulted in considerable demand in the region and prompted a second shipment to be delivered imminently. The warehouse in Faisalabad, Pakistan is expected to begin operating at the end of the third quarter of 2023.
Erayak’s Chairman & CEO, Mr. Lingyi Kong, stated, “We are excited about the plans we are devising in an effort to expand our reach to growing and dynamic international markets such as the Middle East and South Asia. Both markets provide us with tremendous growth opportunities and will enable us to diversify our regional concentrations and customer base.”
About Erayak Power Solution Group Inc.
Erayak specializes in the manufacturing, research and development, and wholesale and retail of power solution products. Erayak's product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products. Our products are used principally in agricultural and industrial vehicles, recreational vehicles, electrical appliances, and outdoor living products. Our goal is to be the premier power solutions brand and a solution for mobile life and outdoor living. For more information, visit: https://erayakpower.com/
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Investor Relations Contact:
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Lisa Gray, Senior Account Manager
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Office: (646) 893-5835
Email: lisa@skylineccg.com
