UAE Investment Institution Takes Major Stake in NWTN to Propel 'We the UAE 2031' Initiative

UAE Investment Institution Takes Major Stake in NWTN

In a groundbreaking move to accelerate technological advancements in the UAE, NWTN Inc., a prominent NASDAQ-listed company headquartered in the UAE, has announced a strategic agreement with SEET LLC, a subsidiary of Medad Holding. This partnership signifies a critical moment as it aims to align with the ambitious national vision dubbed 'We the UAE 2031'. The investment involves SEET acquiring a substantial stake worth $100 million, establishing it as NWTN’s largest shareholder.

Strategic Focus and Vision

The essence of this investment goes beyond mere capital infusion; it encapsulates a shared commitment towards innovative solutions in areas such as smart mobility, artificial intelligence, smart energy, and blockchain technology. With these initiatives, both NWTN and SEET are set to enhance the UAE’s standing as a leader in clean energy and innovative manufacturing. This partnership resonates with the goals outlined in the 'Forward Economy' initiative under the 'We the UAE 2031' vision, which emphasizes new strategic areas while fostering potential sectors for future growth.

H.E. Mohammed Alshaiba Almazrouei, COO of Medad Holding, expressed enthusiasm about this investment, stating, "Medad Holding is dedicated to providing innovative solutions that meet the modern market’s demands. This strategic investment marks the beginning of a long-term collaboration with NWTN. Our confidence in NWTN’s strategy and its capacity for creating value through synergy is paramount."

NWTN's Ambitious Mission

NWTN’s CEO, Mr. Benjamin Zhai, underscored the importance of this partnership, highlighting that SEET LLC’s strategic position complements NWTN's strengths in smart manufacturing. Zhai noted, "This collaboration not only aligns with the 'We the UAE 2031' vision but also enhances our capability to drive innovation and global talent within the UAE. As a central player in this economy, we aspire to significantly impact both the new energy sector and emerging industries of the future."

As this venture kicks off, NWTN is poised at the intersection of technology and sustainability, aiming to influence various markets including the MENA region and Southern Europe. This strategic alignment sets the stage for significant advancements in areas critical for sustainable development— a message that echoes strongly within the framework of the UAE’s national vision.

About SEET LLC and Medad Holding

SEET LLC stands as a testament to Medad Holding’s commitment to driving national innovation and superior market vitality. Established in 2018, Medad Holding is renowned for reshaping modern interactions through technology-driven investments. The company seeks projects that possess disruptive potential while ensuring strategic synergy with existing ventures—a foundation upon which this collaboration with NWTN is built.

Conclusion

With the UAE positioning itself as a leader in technological innovation and sustainability, this investment by SEET LLC into NWTN marks a pivotal step towards realizing the ambitious 'We the UAE 2031' vision. By harnessing cutting-edge technologies and fostering a culture of innovation, both entities are set to play a crucial role in shaping the future of the UAE’s economy and its global influence in sustainable practices.

This announcement not only heralds a new chapter for NWTN and SEET but also exemplifies the UAE's commitment to pioneering efforts in clean energy, urban mobility, and smart technology integration, thus paving the way for a resilient and forward-thinking nation.