UAE - Mubasher: Statevolt, a global leader in green industrialization, plans to launch a technology-agnostic battery cell Gigafactory in Ras Al Khaimah, with a capital expenditure of $3.20 billion.
Statevolt Emirates will mark a significant milestone in boosting technological innovation in the energy storage sector (ESS), according to a press release.
The Gigafactory will be developed to set a new standard in battery technology, delivering battery solutions that are adaptable to a wide range of climates and conditions.
This project will be established on a site spanning 60 hectares in the Al Hamra Industrial Zone in RAKEZ and is expected to offer up to 2,500 direct job opportunities.
It also aligns with the UAE's strategic vision to become a leading hub for green technology and energy transition, fostering the country’s position as a leader in sustainable industrial development.
Lars Carlstrom, Founder and CEO of Statevolt, said: "Our $3.20 billion investment in the Ras Al Khaimah Gigafactory, using next-generation technology, highlights this commitment, aiming to meet the growing demand for energy storage solutions across Africa, India, the UAE, and the Middle East.”
The Group CEO of RAKEZ, Ramy Jallad, mentioned: “The outstanding facilities provided by the emirate of Ras Al Khaimah are in perfect harmony with Statevolt’s ambitious production objectives and RAKEZ is committed to supporting the company’s journey every step of the way, ensuring all the requirements are fulfilled for the successful gigafactory project.”
“This synergy enhances our collective pursuit of sustainability, aligning with the emirate’s Energy Efficiency and Renewables Strategy 2040,” Jallad added.
Following the land agreement, Statevolt will be applying for building permits. It will have the first production line fully operative by the end of 2026.
