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Monday, 9 October 2023

Dubai-based NWTN reveals the UAE’s first locally manufactured EV

The UAE’s first EV — The Rabdan One — will advance the Emirati industrial sector and boost its net zero commitments, UAE’s Minister of Industry and Advanced Technology Sultan Al Jaber said in a statement during a site visit to NWTN Motors’ car assembly facility in Abu Dhabi. Rabdan One is the first to be developed under the NWTN’s Rabdan brand.

More details: The EV boosts a dual-motor drive system, packs a 510 KW battery with a range of up to 860 KM, 1.04k horsepower, and can reach 100 km/h in 4.5 seconds, according to a previous statement published last May. The EV also features a level 2 autonomous driving system (out of 5) and multiple intelligent human-machine interactive systems. Pricing for the vehicle has not yet been revealed, but sign-up registration for interest in the car is possible on NWTN’s website. The carmaker has also indicated that it expects sales of the Rabdan One to exceed 5k vehicles over a five-year period.

NWTN is also shaking hands with auto traders: NWTN signed an MoU with Al Khalid Auto in April for the delivery of over 1k Rabdan One vehicles over the next two years, kicking off the development of its sales and distribution network in the GCC countries, according to Trade Arabia. Under the MoU, Al Kalid became the exclusive distributor of vehicles for the Rabdan brand, enabling the sale of Rabdan vehicles, parts, and accessories together with the provision of after-sales services within Kuwait. NWTN also signed an MoU with Elfaba Investment and Advisory for the sale and purchase of 5k NWTN and Rabdan brands across more than seven countries for 5 years.

All part of bigger moves: The company inked an agreement with the Abu Dhabi Department of Economic Development in July to establish a new integrated electric vehicle production line in the UAE, and expand its existing EV factory in Khalifa Economic Zones Abu Dhabi (Kezad). In its initial phase, NWTN’s EV plant will have an annual production capacity of 5-10k semi-knocked-down EVs. In its second phase, NWTN wants to introduce several new EV models and expand the 25k sqm facility’s capacity to 50k units per year.

And expansions: NWTN Motors acquired a 27.5% stake in EV manufacturer China Evergrande New Energy Vehicle Group (EVGRF) last August at an equity investment of USD 500 mn, with the goal of capitalizing on EVGRF’s research and development and production capacity to meet MENA’s EV demands. Trading in shares between NWTN and EVGRF resumed yesterday after a 10-day suspension triggered by “significant uncertainties” tied to the Chinese firm amid investigations initiated against it and a derailed debt restructuring plan, according to Reuters.

About NWTN: Headquartered in Dubai, NWTN has a full vehicle assembly facility in Abu Dhabi — completed at the end of last year in Kezad — and a supply chain manufacturing base in Jinhua, China. NWTN is also exploring avenues in the entire clean energy value chain, including photovoltaics, green hydrogen power, and energy storage in the UAE, the Middle East, North Africa, China, other Asian countries and Europe.

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