StockNews.AI
NWTN
StockNews.AI
8 days

NWTN and Pakistan's JW Corporation Enter New Energy Commercial Vehicle Production Partnership, Implementing "UAE HQ + South Asia Manufacturing + Global Sales" Strategy

1. NWTN signs agreement for CKD automotive facility usage in Pakistan. 2. Exclusive access includes a network of 400 sales outlets nationwide. 3. Collaboration supports UAE's green technology goals and global brand expansion. 4. NWTN aims to produce new energy commercial vehicles regionally. 5. Partnership positions Pakistan as a hub for electric vehicle manufacturing.

5m saved
Insight
Article

FAQ

Why Bullish?

The significant expansion into Pakistan and partnership with JW Corporation enhances NWTN's operational capabilities and market reach. Previous market expansions have often led to positive investor sentiment and price appreciation for companies leveraging efficient production and distribution networks.

How important is it?

This development marks a significant milestone in NWTN's strategic ambition, likely leading to an increased market footprint. With the growing demand for electric vehicles and regional economic initiatives, this partnership positions NWTN favorably.

Why Long Term?

The establishment of manufacturing and sales capabilities in Pakistan provides sustainable growth potential. This aligns with long-term industrial strategies and has historically led to increased company valuations, as seen in similar market expansions.

Related Companies

TSLANIOBYDFGM
, /PRNewswire/ -- NWTN Inc. ("NWTN" or the "Company") (Nasdaq: NWTN), a global smart mobility and manufacturing platform, today executed an Asset Contribution and Share Issuance Agreement (SPA) with Pakistan's prominent industrial group JW Corporation. The agreement grants NWTN exclusive usage rights to JW Corporation's complete knock-down (CKD) automotive assembly facility in Lahore's China-Pakistan Special Economic Zone (JW-SEZ) and access to JW Corporation's nationwide network of over 400 sales outlets in Pakistan. This collaboration supplements NWTN's global strategy with "UAE Headquarters + South Asia Manufacturing + Global Sales." Utilizing the 563,000-square-foot CKD facility and JW Corporation's established distribution network, NWTN will introduce market-competitive multifunctional new energy commercial vehicles to the global market. The partnership not only aligns with UAE's "We the UAE 2031" national vision and Dubai's D33 economic agenda by exporting green transition technologies through EV production and establishing Pakistan as an export hub connecting South Asia, the Middle East, and Africa, but also delivers core strategic value to NWTN with capital-efficient manufacturing through utilization of existing CKD infrastructure and accelerated global brand expansion via international deployment of product lines. Muhammad Javed Afridi, CEO of JW Corporation, stated:"This collaboration introduces advanced EV technology to Pakistan's manufacturing ecosystem. Through CKD operations at JW-SEZ, we aim to develop South Asia's premier new energy commercial vehicle export base." Benjamin Zhai, CEO of NWTN, commented:"This partnership advances the UAE's sustainable manufacturing goals under its national vision while leveraging Dubai's trade hub status to globalize our OEM partner's brand. It accelerates NWTN's evolution from smart mobility brand to global intelligent manufacturing platform." About JW CorporationJW Corporation is a leading Pakistani industrial conglomerate with operations spanning automotive, energy, and real estate sectors, featuring integrated CKD assembly capabilities and nationwide distribution networks. About NWTN Inc.NWTN (Nasdaq: NWTN), a UAE-headquartered global smart technology company, focuses on smart mobility, advanced manufacturing, and blockchain solutions. The company is transitioning to the corporate name Robo.ai Inc. *This press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from expectations. Refer to NWTN's SEC filings for details.* SOURCE NWTN Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News