DUBAi, UAE, Dec. 7, 2023 /PRNewswire/ -- NWTN Inc.
(Nasdaq: NWTN), an eco-conscious mobility technology company
bringing passenger-centric green premium mobility solutions to the
world ("NWTN" or the "Company"), is thrilled to announce a landmark
Memorandum of Understanding (MOU) with China State Construction
Engineering Corporation (Middle
East) LLC (CSCEC), marking a significant stride in
international cooperation and sustainable development. This
partnership sets a new precedent in the pursuit of advancements in
new energy vehicles and green hydrogen projects.
This pivotal agreement, witnessed by Wang Shaofeng, President of
CSCEC Middle East, and Alan Nan,
Chairman and Chief Executive Officer of NWTN, was formalized
between Wei Chuaihai, Vice President of CSCEC Middle East, and
Faris AI Yafei, Director of Strategic Cooperation of NWTN.
The signing ceremony took place at the NWTN booth in the
COP28 Green Zone, Dubai Expo City,
and was graced by the presence of H.E. Omar Ahmed Suwaina Al
Suwaidi, Undersecretary of the Ministry of Industry and Advanced
Technology (MOIAT).
The signing ceremony was attended by notable figures including
Ma Wenlong, Vice President of CSCEC Middle East; Guo Haizhou,
President Assistant of CSCEC Middle East; Paul Lin, NWTN Group Automotive Business
President; and Steven Cao, NWTN
Group Vice President and Chief Marketing Officer.
Scope and Objective of Cooperation
This strategic partnership encompasses extensive collaboration
in market development and business promotion across diverse
regions, including East Asia,
North Africa, and Southeast Asia. The primary objective is to
leverage each company's industry position and technological prowess
to propel the development of innovative and sustainable projects,
significantly enhancing both companies' market competitiveness and
brand influence.
Comprehensive Collaboration Framework
Under the terms of the MOU, CSCEC will manage the comprehensive
project construction process, including planning, feasibility
studies, general contracting, and project financing assistance. In
parallel, NWTN will focus on project investment and operations,
harnessing its market and product advantages to boost the sales and
market expansion of new energy vehicles and green hydrogen
projects.
Commitment to Sustainable Development
This collaboration epitomizes our commitment to sustainable
development and environmental protection. By combining CSCEC's
construction and management expertise with NWTN Inc.'s innovative
technology in new energy vehicles and green hydrogen, we aim to set
new standards in the industry.
Future Prospects
This MOU is just the beginning of a fruitful and long-lasting
partnership. Both parties have established a regular communication
and exchange system, ensuring the smooth progress of joint
projects. Further, each company recognizes the other as a strategic
partner in their respective countries, committed to the success of
this collaboration.
NWTN is excited to embark on this journey with CSCEC. This
partnership not only aligns with its strategic goals but also
represents a significant step towards a sustainable future. We are
confident that this collaboration will yield remarkable results and
set a benchmark in the industry.
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.
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: www.nwtn.ae
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 (including, but not limited
to, the anticipated benefits of its partnerships) that are based on
current expectations and assumptions and, as a result, are subject
to risks and uncertainties.
Actual results (including, but not limited to, the success of
NWTN's partnerships in developing clean energy solutions) 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 does
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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