articalM Glory's electric vehicle manufacturing plant opens in DubaiThe $408m factory in Dubai Industrial City will initially produce 10,000 cars a yearIan Oxborrow, Oct 05, 2022A new Dh1.5 billion ($408 million) electric vehicle factory with the capacity to produce10,000 cars a year has opened in Dubai.The Al Damani Electric Vehicle Manufacturing Factory by M Glory, in Dubai Industrial City, covers 45,000 square feet.It will house a temporary assembly line until a more comprehensive plant is completed, to be operational within two years. Once ready, it will have a production capacity of 55,000 electric cars per year, the company said in a statement on Wednesday."This historic milestone will provide another low-emission energy source and contribute to creating a more sustainable future for the UAE and the region," said Saud Abu Al Shawareb, executive vice president of Industrial Leasing at Tecom Group."By delivering cutting-edge, technologically supported solutions in line with Operation 300bn and driven by our partnership with the Ministry of Industry and Advanced Technology, the manufacturing sector can play a crucial role in supporting the national net zero strategy."M Glory this year said its EVs will be exported to the wider GCC region, as well as Egypt, Tanzania, Senegal, Mali and Kenya.It has already revealed its first electric car, the Al Damani DMV300. Two models have been built using European specifications, with a battery capacity of 52.7 kWh and the ability to cover more than 405km on a single charge.The UAE is expanding efforts to shift to greener technology, most notably under its Net Zero 2050 Strategic Initiative, which calls Dh600bn investment in clean and renewable energy sources in the next three decades.The factory is "the first and only facility of its kind in the UAE to meet international specifications where we will manufacture environmentally friendly electric cars, contributing to global efforts to reduce carbon emissions and support sustainable development", said Majida Al Azazi, chairwoman of M Glory Holding Group.Global sales of electric vehicles doubled last year to represent nearly 9 per cent of the car market, the International Energy Agency said.In the first quarter of 2022, EV sales reached 2 million, a 75 per cent increase on the first quarter of 2021.The UAE is among the world's top 10 countries as a market geared towards electric mobility, consultancy Arthur D Little said.Under the UAE Vision 2021, the government has promoted EV adoption across the nation. It has converted 20 per cent of the government agency cars to EVs and is aiming for 42,000 on the streets by 2030.About 52 per cent of UAE residents are considering a switch to hybrid or electric motoring as the increase in fuel prices this year affects the way consumers think about transport, a survey in May by Audi Abu Dhabi showed.https://www.thenationalnews.com/business/road-to-net- zero/2022/10/05/m-glorys-electric-vehicle-manufacturing- plant-opens-in-dubai/appling:1- porter's generic strategies2- aka: Bartlett and Ghoshal framwork3-balanced Score card4- VRIO