NWTN (NWTN) and UAE-based W Motors Automotive Group Holding have formed a joint venture aimed at expanding their automotive business, the companies said late Tuesday.
Financial terms of the deal were not disclosed.
NWTN and W Motors said the joint venture enables them to partner on research and development, manufacturing, and marketing strategies.
The companies said they will focus on mid-sized luxury, security, and law enforcement vehicles as well as alternative energy mobility solutions with the goal of leveraging W Motors' UAE infrastructure.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.