SEET acquires strategic stake in NWTN Inc.

NWTN announced execution of an agreement with SEET LLC, a subsidiary of Medad Holding, an investment institution in the UAE. This agreement marks a new phase in NWTN‘s strategic transformation toward “Smart Mobility, Smart Device, Smart Contract” solutions. NWTN and SEET have signed a Share Purchase Agreement under which SEET will invest $100M to acquire newly issued NWTN shares. Additionally, SEET and its affiliated companies will partner with NWTN in strategic initiatives spanning urban mobility, AI, smart energy, and blockchain technology etc. Upon completion, SEET will become NWTN’s largest single shareholder. This partnership aligns with the newly launched “We the UAE 2031” national vision, particularly its “Forward Economy” initiative – “focusing on new strategic areas, exceling in well-established key sectors and dominating future potential sectors, while positioning the UAE at the forefront of the digital economy and strengthening its role as a leading force in the energy sector.”