(MENAFN- Khaleej Times)
Published: Wed 5 Oct 2022, 5:03 PM
Last updated: Wed 5 Oct 2022, 11:00 PM
M Glory Holding Group and Dubai Industrial City, a member of Tecom Group, on Wednesday announced the opening of Al Damani's new 45,000sqft factory that will produce up to 10,000 cars annually.
The official opening of the factory in Dubai represents a major milestone in the manufacturing of electric cars to meet a rising demand for green mobility to reduce global carbon emissions. The production capacity will increase to 55,000 electric cars per year when a new facility will be ready in next two years.
Dr Majida Al Azazi, chairman of the board of directors of M Glory Holding Group; and Saud Abu Al Shawareb, executive vice-president for industrial leasing at Tecom Group; presided over the factory's groundbreaking ceremony in the presence of top business leaders and media representatives.
Low-emission energy source
Saud Abu Al Shawareb said this historic milestone will provide another low-emission energy source and contribute to creating a more sustainable future for the UAE and the region.
'The opening of M Glory in our community illustrates our dedication to boosting the manufacturing sector and our belief in providing a comprehensive ecosystem that enables regional manufacturers like M Glory to establish businesses and further the 'Make it in the Emirates' initiative,” he said.
Temporary plant for the production of electric vehicles is located on the a million square feet oasis.
As a member of the Tecom Group, Dubai Industrial City is one of the most prominent industrial and logistics hubs in the region, home to international, regional, and local manufacturing giants in a wide range of strategic sectors. It greatly contributes to the achievement of several national strategies, such as Operations 300bn.
'By delivering cutting-edge, technologically supported solutions in line with Operation 300bn and driven by our partnership with the Ministry of Industry and Advanced Technology, the manufacturing sector can play a crucial role in supporting the national net zero strategy,' Al Shawareb said.
The UAE gears up for electric vehicles
The UAE, which ranked eighth globally for its readiness of markets for electric mobility, is taking serious action to promote the electric vehicle market that is estimated to grow at a compound annual growth rate of 30 per cent between 2022 and 2028.
The UAE electric vehicles market is currently in the early stages, but it still has one of the biggest charging-station-to-vehicle-ratios in the world. The country is said to have 325 charging stations.
Under UAE Vision 2021, the government has promoted electric vehicles adoption across the nation and it has converted 20 per cent of government agency cars to EVs and further intends to reach 42,000 EVs on the streets by 2030.
55,000 electric cars to be produced locally in two years
Dr Majida Al Azazi said this temporary plant for the production of electric vehicles is located on the a million square feet oasis and will be used until the sustainable and comprehensive facility in Dubai Industrial City is completed.
'The new facility will be operational in the next two years and have a production capacity of 55,000 electric cars yearly,” she said.
A sustainable and comprehensive facility in Dubai Industrial City will be completed in next two years.
She continued that due to the cars' compatibility with the environment and atmosphere of the Gulf area, they will be competitive and durable, offering qualitative addition to the electric car sector.
'Today marks the official opening of the Damani Electric Vehicle Manufacturing Factory, the first and only facility of its kind in the UAE to meet international specifications where we will manufacture environmentally-friendly electric cars, contributing to global efforts to reduce carbon emissions and support sustainable development,' she said.
The new facility will be operational in the next two years and have a production capacity of 55,000 electric cars yearly.
Dr Al Azazi also highlighted that the 50 principles announced by the UAE government contributed greatly to the country's industrial sector, which is experiencing a wonderful revival. Such vision has hastened the sector's development by boosting national industrial institutions and companies, enhancing their operations, and creating new markets that have allowed them to expand on a global level.
'I appreciate the assistance and facilities offered by Dubai Industrial City to launch this first industrial facility of its kind in the Middle East, as it offers the ideal ecosystem for launching and developing our goals and future expansion plans,' she said.
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