M Glory Group, located in the UAE, lay the groundwork for the country's first industrial plant for the production of electric vehicles (EV) in Dubai Industrial City, which would cost AED1.5 billion ($408.3 million).
The sophisticated sustainable industrial complex will be the UAE's first of its type, producing 55,000 automobiles per year to address a growing demand for green transportation in an effort to cut global carbon emissions.
The new plant in Dubai Industrial City will employ over 1,000 people and will be built on a total land area of one million square feet to facilitate future development plans. According to the company, the electric vehicles would be supplied to the GCC area as well as Egypt, Tanzania, Senegal, Mali, and Kenya.
M Glory Holding officials stated in announcing the new venture that the company intends to benefit from the Fourth Industrial Revolution and sustainability by integrating future technology and robots in the production of EVs.
M Glory Holding officials stated in announcing the new venture that the company intends to benefit from the Fourth Industrial Revolution and sustainability by integrating future technology and robots in the production of EVs.
According to Omar Suwaina Al Suwaidi, Undersecretary at The Ministry of Industry and Advanced Technology (MoIAT), the ministry is executing a package of projects and initiatives under the UAE's national industrial plan in collaboration with partners from the UAE's industrial sector.
"The goal of these initiatives is to make important sectors in the UAE, such as the industrial and technology sectors, more appealing to investors. They will also assist future sectors in developing new competitive advantages and consolidating the UAE's position as a centre for global corporations, investments, and skills "He emphasised this.
Dubai Industrial City, a Tecom subsidiary, is one of the region's most renowned industrial and logistical centres, with over 280 manufacturers and 750 business partners in a variety of vital areas.
"Today we are laying the groundwork to inaugurate an Emirati industrial facility with international specifications where we will manufacture environmentally-friendly electric cars, contributing to global efforts to reduce carbon emissions and support sustainable development," said Dr Magda Al Azazi, Chairman of the Board of Directors of M Glory Holding Group.
Saud Abu Al Shawareb, Managing Director of Industrial City, said on the forthcoming plant: "Sustainability is a worldwide responsibility, and shifting to alternative, low-emission energy sources is a critical component of building a greener future. The manufacturing industry can play a critical role in supporting the national net zero plan by producing innovative, technology-backed solutions in accordance with Operation 300bn and fueled by our collaboration with the Ministry of Industry and Advanced Technology."