NWTN Inc. (NASDAQ:NWTN) saw its stock rise 2.6% following the announcement of a $100 million investment from SEET LLC, a subsidiary of the UAE-based investment firm Medad Holding.
Through this deal, SEET will purchase newly issued shares, becoming the largest single shareholder in the NASDAQ-listed company. The partnership also includes plans for joint strategic efforts in urban mobility, AI, smart energy, and blockchain technologies.
This collaboration supports the UAE’s national goals under the “We the UAE 2031” vision and the “Forward Economy” initiative, aimed at cementing the country’s leadership in the digital and energy sectors.
“As a leading group in the UAE, Medad Holding is dedicated to delivering cutting-edge solutions tailored to today’s evolving market demands,” said H.E. Mohammed Alshaiba Almazrouei, COO of Medad Holding. “This investment reflects our trust in NWTN’s strategy and capability.”
NWTN’s CEO Benjamin Zhai added that the alliance aligns perfectly with the UAE’s 2031 vision and Dubai’s D33 economic agenda. “SEET and Medad Group’s other investments are highly complementary with NWTN’s strength in smart manufacturing and accessibility to global technology and talent,” he commented.
NWTN is a global smart technology company focused on smart mobility, manufacturing, and contracts, with operations spanning the Middle East, North Africa, and Southern Europe. Founded in 2018, Medad Holding targets high-impact projects with disruptive potential.
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