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NWTN ( (NWTN) ) has shared an update.
On January 14, 2025, NWTN Inc. entered into a joint venture agreement with W Motors Automotive Group Holding Limited to establish a new company focusing on automobile modification, vehicle distribution, and car services. NWTN will hold a 51% stake, contributing intellectual property valued at $100 million, while W Motors will hold 49%, contributing its police vehicle and modification business, also valued at $100 million. The joint venture aims to leverage NWTN’s sustainable energy and mobility expertise with W Motors’ design and technology excellence to create a portfolio of sustainable vehicles, focusing on local manufacturing and assembly in the UAE. The partnership is expected to enhance NWTN’s operations and strengthen its position in the automotive industry, offering significant implications for stakeholders through expanded market reach and new mobility solutions.
More about NWTN
NWTN Inc. is a leading innovator in green mobility, specializing in intelligent electric vehicles and sustainable transportation solutions. Based in Dubai, the company is dedicated to advancing eco-friendly mobility through advanced technology and energy-efficient systems.
YTD Price Performance: -19.54%
Average Trading Volume: 437,049
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $200.3M
See more insights into NWTN stock on TipRanks’ Stock Analysis page.
