DUBAI, UAE, Dec. 19, 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 proud to announce a collaboration
with Abu Dhabi Islamic Bank PJSC ("ADIB"). NWTN and ADIB has
entered into a Memorandum of Understanding (the "MOU") for a
one-year collaboration with automatic renewals to enhance the
electric vehicle market in the UAE and beyond, offering unique auto
financing options to customers.
Under the MOU, ADIB will become the first bank in the UAE to
offer exclusive auto financing options at a competitive rate to
customers purchasing Rabdan vehicles. Rabdan is NWTN's premium
mobility brand.
This collaboration aligns with NWTN's commitment to making
sustainable transportation accessible and affordable and ADIB's
dedication to innovative financial services, furthering the
parties' vision of a greener future.
Through ADIB's tailored financing solutions, NWTN aims to
enhance the customer experience and support the growing demand for
electric vehicles in the region. This collaboration is a testament
to NWTN's dedication to innovation and customer satisfaction.
The collaboration represents a significant step forward in
promoting eco-friendly transportation solutions, aligning with the
UAE's vision for a sustainable future. NWTN and ADIB are excited to
explore this new avenue of business cooperation, further
strengthening their positions in their respective sectors.
As a leading Islamic financial institution, ADIB has a track
record of contributing to sustainable development. Their commitment
to financing electric vehicles is evident through initiatives such
as the Volt Electric Vehicle Finance program. The Volt program
aligns with ADIB's Environmental, Social, and Governance (ESG)
commitment and aims to make electric vehicle ownership financially
accessible to a wider audience. This collaboration with NWTN
underscores their dedication to fostering environmentally
responsible solutions and supporting the nation's transition to a
sustainable future.
NWTN looks forward to a fruitful collaboration with ADIB and is
excited about the positive impact this will have on its customers
and the environment.
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
ABOUT ADIB
ADIB is a leading bank in the UAE with more than AED 184 billion
in assets. The bank also offers world-class online, mobile and
phone banking services, providing clients with seamless digital
access to their accounts 24 hours a day. ADIB provides Retail,
Corporate, Business, Private Banking and Wealth Management
Solutions. The bank was established in 1997 and its shares are
traded on the Abu Dhabi Securities Exchange (ADX).
ADIB has a strong presence in six strategic markets:
Egypt, where it has 70 branches,
the Kingdom of Saudi Arabia, the
United Kingdom, Sudan, Qatar,
and Iraq.
Named the Best Islamic Retail Bank by The Digital Banker, and
Best Bank in the UAE by Global Finance Awards, ADIB has a rich
track record of innovation, including introducing the award-winning
Ghina savings account, award-winning co-branded cards with Emirates
airlines, Etihad and Etisalat and a wide range of financing
products.
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 the collaboration with ADIB) 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 collaboration with ADIB and the competitiveness of the
financing options offered by ADIB) 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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