Manufacturing Talks under way to build EV battery plant in Abu Dhabi By Pramod Kumar October 25, 2023, 9:48 AM Reuters A lithium-ion battery factory in China. Abu Dhabi is planning to build a similar facility Sunrise and LG Energy discuss deal China, Japan, S Korea dominate sector Boost for Abu Dhabi’s Savi project China’s Sunrise New Energy is in talks with South Korea’s LG Energy and UAE’s sovereign Abu Dhabi Investment Fund for a potential partnership to set up a lithium battery material manufacturing facility in Abu Dhabi. The anticipated annual production capacity will be 50,000 tonnes of anode materials, the Chinese lithium-ion battery producer said in a statement. The three companies are negotiating to finalise the cooperation details, which will be submitted to their respective boards for approval after the cooperation memorandum is signed. Abu Dhabi plans centre for autonomous vehicle industry Three more smart vehicle companies signed up by Abu Dhabi Exeed joins Chinese push to corner UAE EV market “The global power battery industry is currently dominated by China, Japan, and South Korea,” said Sunrise’s chairman Haiping Hu. According to SNE Research, the top 10 global power battery companies are all from these three countries, accounting for more than 90 percent of global power battery installations. Abu Dhabi earlier this month unveiled plans to establish a smart and autonomous vehicles industry, which aims to add up to AED120 billion ($33 billion) to the country’s economy. The multi-modal cluster will accelerate the deployment of smart and autonomous vehicles across air, land and sea. The smart and autonomous vehicles industry will enable access to funding and investments, streamline regulatory services and fast-track future mobility solutions.
Renewable Energy Masdar views Middle East as biggest growth market UAE’s renewable energy company Masdar considers the Middle East its biggest market, even though its target is to grow globally, a senior executive has said. “The Middle East is the biggest market for us, we are a company from here, and this market is growing significantly,” Abdulaziz Alobaidli, chief executive officer of Masdar, told AGBI […] 29 mins ago
Trade Kenya-UAE Cepa may increase food exports and investment The UAE and Kenya have signed a comprehensive economic partnership agreement (Cepa) that is predicted to lead to a threefold increase in food exports from the East African nation. The trade deal, which was agreed in February last year, is expected to accelerate trade and investment in agriculture, infrastructure, healthcare, travel and tourism, financial services and […] 36 mins ago
Economy Inflation, not war, is Gulf states’ top concern, says WEF Economic concerns such as inflation dominate risk perception for the coming year in the Gulf and across Mena, according to the World Economic Forum. Its survey of thousands of experts and business leaders, the Global Risks Report 2025, found that geopolitical conflict was the No 1 risk globally, selected by respondents as the “most likely […] 1 hour ago
Oil & Gas Adia to help fund $1bn Malaysian oil and gas firm Abu Dhabi Investment Company (Adia) is to invest in an oil and gas equipment-making unit in Malaysia. Adia is participating in the $1 billion funding round for Yinson Holdings’ equipment-maker alongside Asian investment firm RRJ Capital and British Columbia Investment Management. The funding, expected to close in the first quarter of 2025, will primarily support […] 2 hours ago
