DUBAI, UAE, April 17, 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 ("MOU") with Al Kalid Auto L.L.C. ("Al Kalid") for the delivery of over one thousand
Rabdan ONE vehicles over the next two years. With the MOU, NWTN is
kicking-off the development of its sales and distribution network
in the Gulf Cooperation Council countries.
Under the MOU, Al Kalid will
become the exclusive distributor of vehicles under Rabdan brand,
enabling the sale of Rabdan vehicles, parts, and accessories
together with the provision of after-sales services within the
State of Kuwait. Al Kalid will promote the Rabdan brand and plans
to establish a flagship showroom in the Warehouse Mall in Sadiya,
as well as the development of a further three sales outlets.
NWTN will assist Al Kalid with
technical, after-sales, marketing, and communications support
during the entirety of the MOU.
The MOU between NWTN and Al Kalid
was signed at the NWTN Suhoor Gathering held at NWTN's assembly
facility in the Khalifa Economic Zone Abu Dhabi ("KEZAD") in
celebration of the Holy month of Ramadan.
NWTN completed construction of its facility in KEZAD at the end
of 2022. The KEZAD 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
also offered an exclusive preview and experience of the Rabdan ONE,
the first product of the Rabdan brand.
The origin of the Rabdan brand is deeply rooted in Arabic
culture. The brand will cover a full range of intelligent new
energy passenger vehicle products from extended range to pure
electric technology solutions. NWTN believes these vehicles
complement the improvement and change in local new energy
infrastructure, such as charging stations in the Gulf,
Middle East, and North
Africa.
Rabdan products will integrate the advanced technologies and
resources in the global new energy vehicle industry, as well as
surpass traditional fuel vehicle products in every aspect, from
driving experience and intelligent comfort to energy saving and
emissions reduction. It will define a new category of traveling and
lifestyle.
The Rabdan ONE is a dynamic, intelligent, and comfortable,
all-wheel-drive SUV that adopts the world's leading range extension
technology. It has a comprehensive range of up to 860 kilometers,
which removes range anxiety while achieving energy savings and
emissions reduction. It has excellent endurance and is capable of
traveling long distances. The Rabdan ONE is suitable for a variety
of uses from business, family, leisure, adventure, work to
pleasure.
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 MOU and the KEZAD
facility, and the anticipated results and capability of Rabdan
products) 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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