DUBAI, UAE, April 19,
2023 /PRNewswire/ -- NWTN Inc. (Nasdaq: NWTN), an
eco-conscious mobility technology company bringing
passenger-centric green premium mobility solutions to the world
("NWTN"), today announced that it signed a memorandum of
understanding with Elfaba Investment and Advisory ("Elfaba") for
the sales and purchase of products of NWTN and Rabdan brands across
more than seven countries.
The MOU stipulates that NWTN will authorize Elfaba as the NWTN
and Rabdan brand distributor for a period of five years, enabling
the sale of NWTN and Rabdan vehicles, parts, and accessories
together with the provision of after sales services. The MOU also
stipulates that Elfaba will aim for sales of up to 5,000 vehicles.
A definitive agreement is targeted to be signed by the end of
April 2023.
Rabdan is a NWTN brand of intelligent new energy vehicles and
encompasses a full range of intelligent new energy passenger
vehicle products from extended range to pure electric technology
solutions.
Rabdan products will integrate the most advanced technologies
and resources in the global new energy vehicle industry as well as
surpass traditional fuel vehicle products in many aspects, from
driving experience and intelligent comfort to energy saving and
emissions reduction. It aims to define a new category of traveling
and lifestyle.
The MOU between NWTN and Elfaba was signed at the NWTN Suhoor
Gathering which was held in celebration of the Holy month of
Ramadan.
The Suhoor Gathering was held at the NWTN's assembly facility in
the Khalifa Economic Zone Abu Dhabi (KEZAD) which was completed at
the end of 2022. The facility enables NWTN to address the rapidly
growing demand for electric vehicles in the UAE and the
Middle East, promote green
mobility, and accelerate sustainable energy transformation in the
UAE.
Guests mingled and enjoyed traditional Suhoor dishes and were
offered an exclusive preview of the Rabdan brand's first vehicle –
the Rabdan ONE.
The Rabdan ONE is a dynamic, intelligent, and comfortable,
all-wheel-drive SUV that adopts the world's leading range extension
technology. The Rabdan ONE is suitable for a variety of uses
from business, family, leisure, adventure, work to pleasure. The
Rabdan One is designed to be a powerful intelligent car leading a
new fashion lifestyle.
ABOUT NWTN
NWTN is a pioneering green energy company dedicated to providing
passenger-focused, premium electric vehicle products and green
energy solutions to customers worldwide.
Headquartered in Dubai, United Arab
Emirates (UAE), NWTN has a full vehicle assembly facility in
Abu Dhabi and a supply chain
manufacturing base in Jinhua, China.
NWTN is committed to the future of mobility solutions that
integrate pioneering design, personalized lifestyles, Internet of
Everything (IoT), autonomous driving technology and the eco-system
of green energy.
In addition to the offering of new energy vehicles, NWTN is
exploring opportunities in the entire clean energy value chain,
including photovoltaics, green hydrogen power and energy storage in
the UAE, the Middle East,
North Africa, China, other Asian countries and Europe.
For further information, please visit:
https://www.nwtnmotors.com.
FORWARD-LOOKING STATEMENTS
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
condition or state other forward-looking information.
Forward-looking statements are predictions, projections and
other statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. Actual results (including, without limitation,
with respect to the expected benefits from the ISO IMS
accreditations, the progress of the production line at KEZAD
facility, the expansion strategy and anticipated results of R-EEVs'
technology) may differ significantly from those set forth or
implied in the forward-looking statements. Many factors could cause
actual future events to differ materially from the forward-looking
statements in this press release, including but not limited to the
risk factors contained in NWTN's filings with the Securities and
Exchange Commission, which are available for review at www.sec.gov.
Forward-looking statements speak only as of the date they are made.
New risks and uncertainties arise over time, and it is not possible
NWTN to predict those events or how they may affect NWTN. If a
change to the events and circumstances reflected in NWTN's
forward-looking statements occurs, NWTN's business, financial
condition and operating results may vary materially from those
expressed in NWTN's forward-looking statements.
Readers are cautioned not to put undue reliance on
forward-looking statements, and NWTN assumes no obligation and do
not intend to update or revise these forward-looking statements,
whether as a result of new information, future events or
otherwise.
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