Statevolt has announced plans to build a new state-of-the-art, technology-agnostic battery cell gigafactory in Ras Al Khaimah, UAE, at an investment of $3.2 billion.

Statevolt Emirates said it will work alongside various industry and community partners, it will implement the modular design approach, allowing for a faster route to market as well as a solution to diversify production based on technology readiness.

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, it added.

Led by its Swedish-born entrepreneur Lars Carlstrom, also the Founder-CEO of the company, Statevolt Emirates is set to lead the charge towards low-carbon energy solutions.

The gigafactory embodies Carlstrom's vision of leveraging technological innovation for global energy transformation and local economic enhancement.

The project's site spans 60 hectares in Al Ghail Industrial Zone at Ras Al Khaimah Economic Zone (Rakez), and is anticipated to generate up to 2,500 direct job opportunities, fostering significant economic development in Ras Al Khaimah and the surrounding region.

The gigafactory, positioned to meet the surging global demand for ESS, crucial for stabilising the grid, enhancing renewable energy integration, and improving energy efficiency, is strategically focused on key export markets such as Africa, India, the UAE, and the broader Middle East region.

With an expected annual production capacity of up to 40 GWh upon full operation, Statevolt is well-positioned to address the growing need for sustainable energy management.

Carlstrom said: "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. We greatly value the support from the Rakez authorities and are confident that our partnership will bring success and significant opportunities for the community."

Statevolt said it has reached a commercial land agreement in Rakez, marking the first milestone in the development of this new project.

This will be followed by building permits, and expects to have the first production line fully operative by the end of 2026.