UAE’s New Autonomous Vehicle Zone to Draw International Businesses
Special Abu Dhabi Cluster will House Manufacturing Facilities, Hangars, R&D Labs
Abu Dhabi has established a special zone in Masdar City for intelligent and autonomous vehicles with the aim of strengthening the regional economy and generating thousands of employment.
In the presence of His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, the Smart and Autonomous Vehicle Industries (SAVI) cluster was unveiled on Friday.
The zone would house manufacturing facilities, hangars, test areas, research and development (R&D) labs, testing and certification facilities, and sizable workshops.
A number of foreign businesses have already disclosed plans to launch operations in Abu Dhabi, each offering their experience in applications for the air, land, and water.
The SAVI project has been hailed as a game-changing initiative that will boost the economy of the nation by up to AED120 billion ($32.67 billion) and generate up to 50,000 job opportunities, the statement said.
“As a catalyst for Abu Dhabi’s diversification, SAVI is a game changer that will unleash extraordinary economic growth and create new opportunities for talent, entrepreneurs, and investors,” Chairman of the Abu Dhabi Department of Economic Development (ADDED) Jasim Al Zaabi said.
The new zone will also hasten the uptake of green mobility services and move the nation and the world at large closer to a future with no emissions.
The market for autonomous vehicles is expected to grow at a compound annual growth rate (CAGR) of 53.6 percent from 2022 to 2030, with demand expected to reach more than 3.1 million units by 2030, according to Grand View Research.