Brief: Intelligent EB Company NWTN To Establish Its Manufacturing Base In UAE

Robo.ai

10/06/2022 20:41

June 10 (Reuters) - 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 
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