Honeywell to build first Volts gigafactory in UAE for battery cell
Honeywell (NASDAQ: HON) and Volts United Arab Emirates (UAE) announce plans to join forces for the construction of the first gigafactory in Abu Dhabi focused on
Emirates National Batteries Factory's commitment to excellence extends beyond its status as the first lead-acid battery manufacturer in the Emirates. The foundation of its success lies in the high-skilled factory management, boasting extensive experience in the field of battery manufacturing.
With a target of 50% electric and hybrid vehicle sales by 2050, the demand for processed lithium for EV batteries is set to soar. The investment in Abu Dhabi signifies a pivotal step in positioning the region as a key hub in the lithium processing and EV sectors.
Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones Abu Dhabi - KEZAD Group said: “The establishment of the lithium processing plant aligns with the UAE's broader goals of innovation and sustainable development, as well as KEZAD Group's goals for sustainable development.
Lithium is the new oil, and through this project, we are positioning the UAE, and specifically Abu Dhabi, as a pivotal hub in the lithium processing domain.” The project is poised to create a number of job opportunities, stimulate the local economy, and place Abu Dhabi at the forefront of the lithium processing industry.
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