UAE Investment Institution Acquires Strategic Stake in NWTN to Advance "We the UAE 2031 " Vision
UAE Investment Institution Acquires Strategic Stake in NWTN to Advance "We the UAE 2031" Vision |
[16-July-2025] |
DUBAI, UAE, July 16, 2025 /PRNewswire/ -- NWTN Inc. ("NWTN" or the "Company") (Nasdaq: NWTN), a UAE-based NASDAQ-listed company, today announced execution of an agreement with SEET LLC ("SEET"), a subsidiary of Medad Holding, a leading investment institution in the UAE. This agreement marks a new phase in NWTN's strategic transformation toward "Smart Mobility, Smart Device, Smart Contract" solutions. Strategic Equity Investment and Business Integration Upon completion, SEET will become NWTN's largest single shareholder. The investment will bolster NWTN's position as a UAE leader in clean energy, mobility and high-end manufacturing. This partnership aligns with the newly launched "We the UAE 2031" national vision, particularly its "Forward Economy" initiative โ "focusing on new strategic areas, exceling in well-established key sectors and dominating future potential sectors, while positioning the UAE at the forefront of the digital economy and strengthening its role as a leading force in the energy sector." Advancing "We the UAE 2031" and Building a Sustainable Future H.E. Mohammed Alshaiba Almazrouei, COO of Medad Holding (SEET LLC's parent company), stated: Mr. Benjamin Zhai, CEO of NWTN, commented: About SEET LLC SEET LLC is a wholly-owned subsidiary of Medad Holding (https://www.medadholding.com), a leading UAE investment group established in 2018 to drive national innovation, environmental transformation, and market vitality. Medad Holding expands its global presence through technology-driven investments that reshape modern interactions. SEET LLC identifies and invests in projects with disruptive potential and strategic synergy. About NWTN Inc. NWTN (Nasdaq: NWTN), a UAE-headquartered global intelligent technology company, focuses on smart mobility, smart manufacturing, and smart contracts. By integrating smart manufacturing with its global ecosystem platform, the Group is expanding its smart technology ecosystem across markets including MENA, Southern Europe, and beyond, driving sustainable development through technological innovation. This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are characterized by future or conditional verbs such as "may," "will," "expect," "intend," "anticipate," "believe," "estimate" and "continue" or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial conditions or state other forward-looking information.
SOURCE NWTN Inc. | ||
Company Codes: NASDAQ-NMS:NWTN |