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BRIEF-Intelligent EB Company NWTN To Establish Its Manufacturing Base In UAE

reuters.com · 06/10/2022 15:41
BRIEF-Intelligent EB Company NWTN To Establish Its Manufacturing Base In UAE

- NWTN :

  • INTELLIGENT EV COMPANY NWTN TO ESTABLISH ITS MANUFACTURING BASE IN UAE

  • NWTN - ANNOUNCED PARTNERSHIP WITH SULTAN INVESTMENTS IN ESTABLISHING AN EV SKD ASSEMBLY BASE IN KHALIFA INDUSTRIAL ZONE ABU DHABI

  • NWTN - ACCORDING TO NWTN, LOCAL PLANT DEVELOPMENT PLAN INCLUDES TWO PHASES

  • NWTN - IN PHASE ONE, PLANS TO HAVE A SKD FACILITY, WITH AN ANNUAL CAPACITY OF 5,000-10,000 UNITS

  • NWTN - PHASE ONE OF LOCAL PLANT DEVELOPMENT PLAN IS EXPECTED TO BE COMPLETED IN Q4 2022

  • NWTN - IN PHASE TWO, TOTAL AREA OF PLANT WILL EXPAND TO ABOUT 100,000 SQUARE METERS AND CAPACITY WILL INCREASE TO 50,000 UNITS PER YEAR

  • NWTN - FACILITY FOR PHASE TWO OF LOCAL PLANT DEVELOPMENT PLAN IS EXPECTED TO BE COMPLETED BY END OF 1ST QUARTER OF 2024

Source text for Eikon: ID:nBw6GjvVja

Further company coverage: ESSCU


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