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Statevolt announces $3.2 billion investment in state-of-the-art battery gigafactory in Ras Al Khaimah, UAE

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Statevolt, a leader in energy storage solutions, has unveiled plans to establish a cutting-edge battery cell Gigafactory in Ras Al Khaimah, UAE, known as Statevolt Emirates. This venture, with a capital expenditure of $3.2 billion, will revolutionize battery technology and meet the surging global demand for energy storage solutions.

Statevolt Emirates will adopt a modular design approach, facilitating a faster route to market and enabling diversification of production based on technology readiness. The Gigafactory aims to set a new standard in battery technology, prioritizing safety, extended lifecycle, and adaptability to various climates and conditions.

Initially, the factory will produce semi-solid state battery cells, with plans to transition to solid-state battery cells as the project reaches full capacity. Under the leadership of entrepreneur Lars Carlstrom, the Gigafactory is expected to create up to 2,500 direct job opportunities and will be situated across 60 hectares in Al Hamra Industrial Zone in RAKEZ.

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With an anticipated annual production capacity of up to 40GWh upon full operation, Statevolt Emirates will cater to the energy storage needs of regions including Africa, India, the UAE, and the Middle East. Lars Carlstrom, Founder-CEO of Statevolt, emphasized the company’s commitment to sustainability, efficiency, and innovation, highlighting the Ras Al Khaimah Gigafactory as a significant investment in the global energy transition.

RAKEZ has played a pivotal role in facilitating the establishment of Statevolt Emirates, providing support for initial setup activities and committing to meet logistics requirements and energy needs for the Gigafactory’s operations. The collaboration underscores RAKEZ’s dedication to sustainable innovation and aligns with Ras Al Khaimah’s Energy Efficiency and Renewables Strategy 2040.

Statevolt aims to commence production by the end of 2026, with plans to have the first production line fully operational by that time. The partnership between Statevolt and RAKEZ marks a significant milestone in the journey towards a greener future and underscores the commitment to creating a sustainable ecosystem.

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