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UAE Investment Institution Acquires Strategic Stake in NWTN to Advance "We the UAE 2031" Vision
Prnewswireยท 2025-07-16 14:05
Core Viewpoint - NWTN Inc. has entered into a strategic partnership with SEET LLC, a subsidiary of Medad Holding, involving a US$100 million investment to enhance its position in smart mobility, AI, smart energy, and blockchain technology [2][3]. Group 1: Strategic Investment and Business Integration - SEET LLC will invest US$100 million to acquire newly issued shares of NWTN, making it the largest single shareholder [2][3]. - The partnership aims to strengthen NWTN's leadership in clean energy, mobility, and high-end manufacturing within the UAE [3]. Group 2: Alignment with National Vision - The collaboration supports the "We the UAE 2031" national vision, particularly the "Forward Economy" initiative, which focuses on new strategic areas and enhancing the UAE's role in the digital economy [3][4]. - NWTN's CEO emphasized the alignment of this partnership with Dubai's D33 economic agenda and the company's aspirations in the new energy sector and future industries [4]. Group 3: Company Background - NWTN is a UAE-based global intelligent technology company focusing on smart mobility, smart manufacturing, and smart contracts, expanding its ecosystem across MENA and Southern Europe [6]. - SEET LLC, established in 2018, aims to drive national innovation and market vitality through technology-driven investments [5].