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US battery manufacturer to build $3bn factory in Rakez

By Divsha Bhat
Statevolt factory rendering Manara Global
An impression of the planned Statevolt gigafactory in the Al Ghail Industrial Zone
  • Plant to create up to 2,500 jobs
  • First production planned for 2026
  • Production capacity of 40GWh

The American battery manufacturer Statevolt is to construct a $3 billion factory in Ras Al Khaimah. 

Statevolt Emirates, as the venture will be known, will generate up to 2,500 jobs at its 60 hectare facility in Al Ghail Industrial Zone in Ras Al Khaimah Economic Zone (Rakez). 

The manufacturing facility is “strategically focused on key export markets such as Africa, India, the UAE, and the broader Middle East region,” said Statevolt’s founder-CEO, the Swedish automotive entrepreneur Lars Carlstrom.

Statevolt started in California in 2021.

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Rakez has collaborated with Statevolt on the initial set-up activities in the emirate and is supporting logistics requirements and providing sufficient energy for the factory to operate at full capacity. 

Statevolt has reached a commercial land agreement in Rakez, and will soon proceed with building permit applications.

It is targeting full operation of the first production line by the end of 2026.

The facility is expected to reach an annual production capacity of up to 40GWh. 

Last month Abu Dhabi announced a $1.4 billion lithium processing plant in the emirate to support the region’s fledgling electric vehicles industry.

Kezad Group and Titan Lithium of the UAE signed an agreement for the plant, which will produce battery-grade lithium carbonate and lithium hydroxide for battery makers and EV manufacturers globally.

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