KIZAD, part of AD Ports Group’s Economic Cities & Free Zones, has signed a lease agreement with green mobility technology company NWTN to establish an Electric Vehicle (EV) assembly facility in Abu Dhabi.
Under the agreement, NWTN plans to initially operate a 25,000 square-metre manufacturing, research and development, vehicle testing and logistics facility.
This will be constructed by KIZAD with an annual capacity of 5,000-10,000 units for the assembly of semi-knocked-down (SKD) Electric Vehicles.
In phase two, NWTN plans to introduce new Electric Vehicle models and expand capacity to 50,000 units annually.
The facility is set for completion in Q4 2022 and it will be the first of its kind for Electric Vehicles in Abu Dhabi.
“AD Ports Group is committed to driving sustainable manufacturing, and this key strategic partnership in KIZAD will support our wise leadership’s vision to advance industrial competitiveness while protecting the environment,” said Captain Mohamed Juma Al Shamisi, Managing Director & Group CEO, AD Ports Group.
“Attracting electric vehicle manufacturers to Abu Dhabi will play a significant role in enabling the economic vision of Abu Dhabi and is aligned with the recently announced Abu Dhabi Industrial Strategy.
“We are pleased to welcome NWTN into our ecosystem at AD Ports Group and to facilitate their contribution to a cleaner environment for communities and for future generations.”
The announcement follows recent regulatory updates by the Abu Dhabi Department of Energy (DoE) that seek to accelerate the development of electric vehicle infrastructure as part of Abu Dhabi’s Low Emission Vehicle Strategy.
AD Ports added that the new production facility aligns with United Arab Emirates Net-Zero by 2050 agenda, and it will serve growing demand for sustainable transport options in the UAE region.
“The strategic location, with direct access to regional and global markets and proximity to world-class manufacturing infrastructure in KIZAD will allow NWTN to enhance its operations long-term and increase our export potential,” said Alan Wu, Chairman & CEO, NWTN.
Net profit growth accelerated to 59 per cent year-over-year (YoY), reaching AED300 million ($82 million) in Q2 2022, resulting in a 49 per cent YoY growth for the first half of 2022.