DUBAI: Investment company M Glory Holding Group is entering the electronic vehicle market, having opened an EV manufacturing plant in Dubai Industrial City.
According to a report in The National newspaper, the plant is touted to be one of the largest EV manufacturing facilities in the Middle East, with a total land area of 93,000 square meters and is valued at 1.5 billion dirhams ($408 million).
With this plant, the company aims to produce 55,000 EVs a year as demand for green mobility is witnessing a drastic rise. The venture is also expected to create 1,000 jobs.
M Glory has also introduced the Al Damani DMV300, its first fully electric car.
"The M Glory factory will employ the technologies and techniques of the Fourth Industrial Revolution using the latest robots in the manufacturing processes," said Majida Al Azazi, chairwoman of M Glory Holding Group.