Investing.com — NWTN Inc. (NASDAQ:NWTN) stock rose 2.6% after the company announced it has secured a $100 million investment from SEET LLC, a subsidiary of UAE investment institution Medad Holding.
Under the agreement, SEET will acquire newly issued NWTN shares, making it the largest single shareholder of the NASDAQ-listed company. The two companies will also collaborate on strategic initiatives in urban mobility, artificial intelligence, smart energy, and blockchain technology.
The partnership aligns with the UAE’s “We the UAE 2031” national vision and its “Forward Economy” initiative, which aims to position the country at the forefront of the digital economy and energy sector.
“As a leading group in the UAE, Medad Holding is dedicated to delivering cutting-edge solutions tailored to today’s evolving market demands,” said H.E. Mohammed Alshaiba Almazrouei, COO of Medad Holding. “This investment reflects our trust in NWTN’s strategy and capability.”
Benjamin Zhai, CEO of NWTN, noted that the collaboration aligns with both the UAE 2031 vision and Dubai’s D33 economic agenda. “SEET and Medad Group’s other investments are highly complementary with NWTN’s strength in smart manufacturing and accessibility to global technology and talent,” he stated.
NWTN describes itself as a global intelligent technology company focusing on smart mobility, smart manufacturing, and smart contracts, with operations across the Middle East, North Africa, and Southern Europe. Medad Holding, established in 2018, is a UAE investment group that seeks projects with disruptive potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read more on Investing.com India
