NWTN & Sultan Investments unite to establish EV SKD assembly base in UAE

By Shilpa Annie Joseph, Desk Reporter
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UAE
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The intelligent electric vehicle (EV) company NWTN has entered into a partnership with Dubai-based private Investment company Sultan Investments in order to establish an EV semi-knocked-down (SKD) assembly base in Khalifa Industrial Zone Abu Dhabi (KIZAD).

SKD refers to a partially assembled parts of a product. The company said that the move intends to expand the company’s global manufacturing network and especially serve the Middle East, European, and North African markets. NWTN has recently relocated its global headquarter to UAE.

The local plant development plan includes two phases. In Phase one, NWTN plans to have an SKD facility, which will include 24,000 square meters of manufacturing, testing, inventory, and storage space, with an annual capacity of 5,000-10,000 units. It is expected to be completed in the fourth quarter of 2022.

As per the company, “In Phase two, the total area of the plant will expand to 100,000 square meters and the capacity will increase to 50,000 units per year. The facility for Phase two is expected to be completed by the end of the 1st quarter of 2024.”

“NWTN is very excited about the partnership to build our local manufacturing plant with Sultan Investments, and we can bring technology know-how, and create jobs in the UAE. The Middle East enables us to look confidently both East and West providing a unique perspective towards the world automobile industry, it will be the start of NWTN’s worldwide expansion,” Mr. Alan Wu, Founder, and Chairman of NWTN.

In April, NWTN announced that it had entered into a definitive Business Combination Agreement with East Stone Acquisition Corporation, a publicly-traded special purpose acquisition company.

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