Home » Statevolt to launch a $3.2 billion battery gigafactory in Ras Al Khaimah, UAE

Statevolt to launch a $3.2 billion battery gigafactory in Ras Al Khaimah, UAE

by Madaline Dunn

Statevolt has announced plans to construct a new state-of-the-art, technology-agnostic battery cell Gigafactory in Ras Al Khaimah, UAE.

The venture, dubbed Statevolt Emirates, will see a capital expenditure of $3.2 billion (USD).

It was shared that Statevolt Emirates will implement its modular design approach, allowing for a faster route to market as well as a solution to diversify production based on technology readiness.

According to the company, the Gigafactory is designed to “set a new standard in battery technology” with superior safety and extended lifecycle, delivering battery solutions that are adaptable to a wide range of climates and conditions.

The factory will start by producing semi-solid state battery cells, with the aim to move to solid state battery cells once the project reaches full capacity.

This project, under the leadership of entrepreneur Lars Carlstrom, is anticipated to generate up to 2,500 direct job opportunities, with a site spanning 60 hectares in the Al Ghail Industrial Zone in RAKEZ.

The Gigafactory is positioned to meet the surging global demand for energy storage solutions (ESS), the company shared, with an expected annual production capacity of up to 40GWh upon full operation.

Lars Carlstrom, Founder-CEO of Statevolt, said: “At Statevolt, our commitment to the global energy transition is founded on our focus on sustainability, efficiency, and innovation. Our $3.2 billion investment in the Ras Al Khaimah Gigafactory, using next-generation technology, highlights this commitment, aiming to meet the growing demand for energy storage solutions across Africa, India, the UAE, and the Middle East.”

Adding: “We greatly value the support from the Ras Al Khaimah Economic Zone authorities and are confident that our partnership will bring success and significant opportunities for the community. We are happy to be able to be a player in one of the world’s most prospering economies who are now taking the lead in new industrialization.”

It was shared that RAKEZ has closely collaborated with Statevolt on the initial setup activities in the Emirate and is committed to supporting logistics requirements and providing sufficient energy for the Gigafactory to operate at full capacity.

Further, Statevolt has reached a commercial land agreement in RAKEZ. Following the land agreement, Statevolt will apply for building permits.

It expects to have the first production line fully operative by the end of 2026.

“We are thrilled to have welcomed Statevolt to our growing community of pioneering enterprises dedicated to sustainable innovation. The outstanding facilities provided by the emirate of Ras Al Khaimah are in perfect harmony with Statevolt’s ambitious production objectives and RAKEZ is committed to supporting the company’s journey every step of the way, ensuring all the requirements are fulfilled for the successful gigafactory project. This synergy enhances our collective pursuit of sustainability, aligning with the emirate’s Energy Efficiency and Renewables Strategy 2040. Statevolt’s presence marks a significant milestone in our journey towards a greener future and reinforces our commitment to attracting leading-edge companies that share our vision for creating a sustainable ecosystem,” commented RAKEZ Group CEO, Ramy Jallad.

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