What’s Happening: NWTN Inc. has announced the completion of its Abu Dhabi EV assembly facility and receipt of the required production and sales license from the UAE government. The company has also reported rapid construction progress at its parts and supply chain facility in Jinhua, China.
Why It Matters: The completion of the Abu Dhabi assembly facility and the ongoing construction of the Jinhua parts and supply chain facility marks significant progress for NWTN in meeting its goal of bringing eco-conscious, passenger-centric green premium mobility solutions to the world. The development of these facilities will enable the company to address the growing demand for EVs in the UAE and the Middle East region and promote green mobility, contributing to sustainable energy transformation.
- NWTN’s Abu Dhabi facility measures approximately 270,000 square feet and has completed construction and equipment installation, obtaining the required EV production and sales license from the UAE government.
- The Jinhua facility in China measures approximately 4,000,000 square feet and has received a total investment of US$1.46 billion, with an expected annual production capacity of 100,000 EVs. The facility is currently in the final stage of construction and equipment design and manufacture.
- NWTN is working with BASF, the chemical company for paint surface refinishing as well as manufacturing safety training, and will seek to complete ISO 9001, ISO 14001, and ISO 45001 certifications for the Abu Dhabi facility soon.
- Staff recruitment and professional training for the Jinhua facility is ongoing, with trial production projected to start by the end of February 2024 and mass production of parts scheduled for the second half of 2024.
Bottom Line: NWTN’s progress in developing its EV production facilities in Abu Dhabi and Jinhua demonstrates the company’s commitment to promoting sustainable energy transformation and green mobility. With strong financial and policy support from the UAE government and advanced technology and supply chain systems, NWTN has the potential to become a prominent player in the global new energy industry chain.