UAE’s Investment management company M Glory Holding Group announced the opening of Al Damani’s new factory in Dubai Industrial City, a member of TECOM Group.
The new plant houses the temporary assembly line, which has a maximum production capacity of 10,000 cars per year.
In addition, the 45,000-square-feet factory will provide another low-emission energy source and contribute to creating a more sustainable future for the UAE and the region, according to Saud Abu Al-Shawareb, Executive Vice President of Industrial Leasing at TECOM Group.
“By delivering cutting-edge, technologically supported solutions in line with Operation 300bn and driven by our partnership with the Ministry of Industry and Advanced Technology, the manufacturing sector can play a crucial role in supporting the national net-zero strategy,” he added.
For her part, Majida Al-Azazi, Chairman of the Board of Directors of M Glory Holding Group, said: “The facility will help manufacture environmentally-friendly electric cars, contributing to global efforts to reduce carbon emissions and support sustainable development.”
The facility will be operational in the next two years and have a production capacity of 55,000 electric cars yearly.
