Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud or unlawful business practices involving NWTN Inc. and its officers or directors [1] Group 1: Company Developments - On May 28, 2025, NWTN disclosed that it received a determination notice from Nasdaq regarding the delisting of its securities [3] - Following the delisting news, NWTN's stock price dropped by $0.72 per share, representing a 32% decline, closing at $1.53 per share on May 30, 2025 [3] Group 2: Legal Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having a history of recovering multimillion-dollar damages for victims of securities fraud [4]

ABU DHABI, UAE, May 21, 2025 /PRNewswire/ -- NWTN Inc. (NASDAQ: NWTN), a global intelligent mobility and AI technology company, today announced the official launch of the "NWTN AI Industrial Park" (NAIP) Project. The project is located in Khalifa Economic Zones Abu Dhabi (KEZAD), covering approximately 130,000 square meters, signaling the start of NWTN's transformation from a new energy vehicle manufacturer to a global intelligent technology producer and enabler.Project Overview: Building the AI Manufacturi ...

Core Insights - NWTN Inc. has appointed Mr. Benjamin Zhai as Executive Director and Global CEO, marking a significant shift from being a NEV manufacturer to a global smart technology platform [1][2] - Mr. Zhai brings over 30 years of experience in technology and mobility, having held senior roles in various high-growth ventures, including NIO and Canoo [2] - The company aims to leverage AI, electrification, and globalization, with the UAE as its global hub for a transformative strategy [3] Company Strategy - NWTN plans to expand its product offerings beyond NEVs to include autonomous logistics systems, drones, and smart wearables [5] - The establishment of the NWTN Smart Industrial Park in Abu Dhabi will enhance smart manufacturing capabilities by integrating R&D, vehicle assembly, and intelligent equipment production [5] - The company aims to create a "technology + manufacturing + capital" model by leveraging the UAE's strengths in industry policy, technology, and talent [5]

Electric Vehicle Development - NWTN is developing a product portfolio of electric vehicles (EVs) known as Smart Passenger Vehicles (SPVs), including the marquee model MUSE, which will feature Level 2.5 autonomous driving technology [58]. - MUSE is designed to enhance passenger experience with features such as a luxurious interior, smart navigation, and multiple riding modes, focusing on comfort and personalization [62]. - The company emphasizes a differentiated passenger experience and aims to redefine EVs with style and ample cabin space [60]. - NWTN's strategic partnerships with leading technology providers and automotive engineering service providers (ESPs) are expected to support its competitive positioning in the EV market [58]. - The global demand for passenger vehicles is driven by rising per capita income, electric vehicle adoption, and advancements in technologies like advanced driver assistance systems (ADAS) [58]. - The company is exploring opportunities with new partners to enhance product features and develop new models, leveraging existing technologies for additional revenue [58]. - NWTN's long-term mission is to create a passenger-centered ecology through high-tech solutions, positioning its SPVs as carriers of this progression [57]. Financial Performance and Risks - The company incurred substantial operating losses and negative cash flows from operations, totaling approximately $138.0 million, $178.0 million, and $6.1 million for the years ended December 31, 2023, 2022, and 2021, respectively [101]. - As of December 31, 2023, the company reported cash and cash equivalents of $23.2 million, a significant decline from $211.9 million in the prior year, with an accumulated deficit of approximately $564.5 million [101]. - The company has not paid any dividends to its parent companies or investors as of the date of the report, with plans to distribute dividends only after achieving profitability [78]. - The company remains highly dependent on securing external financing to sustain its operations, with no assurance that additional capital will be available on acceptable terms [102]. - The cessation of the Rabdan branded vehicle line has materially weakened the company's commercial prospects and operational outlook [102]. - The company faces material weaknesses in internal controls over financial reporting, which could adversely affect investor confidence and operational results [82]. - Future growth is dependent on consumer adoption of electric vehicles (EVs) and the company's ability to compete in a highly competitive global passenger vehicle market [82]. Regulatory and Compliance Challenges - The company is subject to various legal proceedings that could materially affect its business and financial condition, including claims related to product liability and intellectual property [171]. - The company is subject to uncertainties regarding the UAE legal system, which could adversely affect its business operations and financial condition [176]. - Recent regulatory developments in Mainland China may lead to increased oversight and could restrict the company's ability to raise capital outside of China [182]. - The PRC Cybersecurity Law requires critical information infrastructure operators to store personal information within China, which could impose additional compliance costs [184]. - The company must comply with various data privacy and security regulations across jurisdictions, which may require adjustments to its data practices [198]. - Non-compliance with data privacy laws could result in significant penalties, reputational damage, and operational restrictions for the company [206]. Market Competition and Economic Factors - The global passenger vehicle market is highly competitive, with significant competition from both pure-play EV companies and traditional OEMs in the mid- to high-end segment [131]. - Increased competition may lead to lower vehicle unit sales and increased inventory, resulting in downward price pressure that could adversely affect the company's financial condition [132]. - Demand for EVs is influenced by economic, political, and social conditions, and volatility in the automobile industry may materially affect the company's business and prospects [133]. - Changes in government policies supporting EVs and domestically manufactured vehicles are critical for the company's growth, and unfavorable policy changes could adversely impact demand [134]. - The UAE government has shown strong support for the EV industry, but stringent regulations and infrastructure challenges have slowed development [135]. Operational and Supply Chain Risks - The company is reliant on third-party manufacturers for vehicle production, and any adverse changes in these relationships could materially affect operations and financial condition [119]. - The company faces risks related to single-source suppliers, which could lead to production delays and quality issues if those suppliers fail to deliver components [124]. - The company anticipates potential disruptions in supply chains and increased costs due to sanctions and geopolitical tensions, particularly affecting the sourcing of materials like nickel and cobalt [115]. - The military conflicts in regions like Ukraine and the Middle East may lead to supply interruptions, increasing costs and risks in procuring materials for vehicle manufacturing [174]. Technology and Innovation - The company is investing in research and development to keep pace with rapid technological changes in the EV industry, but there is no guarantee of achieving successful outcomes [148]. - The company plans to apply for government grants and incentives to support the development of autonomous driving technologies, but success in obtaining these funds is uncertain [117]. - The company must ensure the resilience and security of its information technology and communication systems to avoid disruptions that could affect business operations [150]. - The company has adopted robust cybersecurity protection practices to mitigate risks associated with potential cyberattacks, including storing key confidential information on private cloud servers [152]. Management and Governance - NWTN's management team is described as experienced and visionary, contributing to the company's strategic direction and success [60]. - Recent departures of key executive officers, including the Chief Financial Officer, may impact the company's management style and operational strategies [164]. - The company qualifies as an "emerging growth company," allowing it to take advantage of reduced reporting requirements until its annual gross revenues exceed $1.235 billion [67]. - The Joint Venture Company will operate independently with a Board of Directors comprising 5 members, ensuring financial transparency through quarterly reports [65].

Strategic Joint Venture - NWTN Inc and W Motors Automotive Group Holding Limited announce a strategic joint venture to expand their automotive business through diverse mobility projects [1] - The partnership combines NWTN's network and access with W Motors' design and technology excellence to create a portfolio of sustainable and solutions-focused vehicles [1] - The joint venture will focus on mid-luxury vehicles, security and enforcement vehicles, and sustainable mobility solutions [2] - The collaboration aims to localize manufacturing and assembly by leveraging W Motors' existing capabilities and infrastructure in the UAE [2] Company Overview - NWTN Inc is a leading innovator in green mobility, offering intelligent electric vehicles and sustainable transportation solutions [5] - NWTN is headquartered in Dubai and is committed to driving the transition toward eco-friendly mobility through groundbreaking technology and energy-efficient systems [5] - W Motors is a fully-integrated mobility solutions provider in the Middle East, offering products and services across high-performance and luxury vehicles, security & defense, electric commercial vehicles, and special projects [7] - W Motors is known for its iconic hypercars, combining cutting-edge technology with bold design to deliver vehicles that redefine automotive performance and aesthetics [7] Forward-Looking Statements - The press release contains forward-looking statements regarding the joint venture between NWTN and W Motors [3] - These statements are based on current expectations and assumptions and are subject to risks and uncertainties [6] - NWTN assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise [8]

Core Viewpoint - NWTN Inc. has received a determination notice from Nasdaq due to its failure to file the 2023 Annual Report, which may lead to the suspension of trading of its securities unless an appeal is filed by November 19, 2024 [1][4]. Group 1: Company Compliance and Nasdaq Listing - The company failed to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2023, resulting in a determination from Nasdaq [1]. - Nasdaq has set a deadline of November 19, 2024, for the company to appeal the determination to avoid suspension of trading [2][3]. - The company intends to request a hearing to appeal the determination and seek an extended stay of the trading suspension [3]. Group 2: Company Operations and Future Plans - NWTN is actively working to file the 2023 Annual Report as soon as possible, although there is no assurance of regaining compliance with Nasdaq Listing Rule 5250(c)(1) [4]. - The company is committed to providing passenger-focused, premium electric vehicle products and green energy solutions globally, with facilities in Dubai and Abu Dhabi, and a manufacturing base in Jinhua, China [5][6].

Core Viewpoint - NWTN Inc. is under investigation for possible securities fraud, with a potential class action being considered for investors who have incurred losses [1][2]. Group 1: Company Compliance Issues - On May 24, 2024, NWTN announced it received a letter from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Annual Report on Form 20-F for the year ended December 31, 2023 [3]. - The company has until July 22, 2024, to submit a plan to regain compliance with Nasdaq requirements [3]. - Following this announcement, NWTN's stock price dropped by $0.58, or 14.43%, closing at $3.44 per share on May 28, 2024 [3]. Group 2: Legal Actions and Investor Support - The Portnoy Law Firm is offering complimentary case evaluations for NWTN investors to discuss their legal rights and options for recovering losses [2][4]. - The firm has a history of recovering over $5.5 billion for investors affected by corporate wrongdoing [4].

Group 1 - Pomerantz LLP is investigating claims on behalf of investors of NWTN Inc. regarding potential securities fraud or unlawful business practices by the company and its officers/directors [2] - NWTN's stock price experienced a significant decline of $0.58 per share, or 14.43%, closing at $3.44 per share on May 28, 2024, following the news of the investigation [4] - On May 24, 2024, NWTN announced it received a letter from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Annual Report on Form 20-F for the year ended December 31, 2023, and has until July 22, 2024, to submit a compliance plan [5]

Core Viewpoint - NWTN Inc. is under investigation for potential violations of federal securities laws and unlawful business practices, following a compliance issue with Nasdaq regarding its Annual Report [1][2]. Group 1: Compliance Issues - On May 24, 2024, NWTN received a notification from Nasdaq stating it is not in compliance with Listing Rule 5250(c)(1) due to the failure to file its Annual Report on Form 20-F for the year ended December 31, 2023 [2]. - NWTN has until July 22, 2024, to submit a plan to regain compliance with Nasdaq [2]. - Following the announcement of the compliance issue, NWTN's stock price dropped by $0.58, or 14.43%, closing at $3.44 per share on May 28, 2024 [2]. Group 2: Legal Investigation - Bragar Eagel & Squire, P.C. is investigating potential claims on behalf of NWTN stockholders who may have suffered losses due to the company's actions [1][3]. - The law firm is reaching out to long-term stockholders and those with information regarding the situation to discuss their rights and interests [3]. Group 3: Law Firm Background - Bragar Eagel & Squire, P.C. is a nationally recognized law firm with expertise in representing investors in complex litigation across various courts [4]. - The firm operates in multiple states, including New York, California, and South Carolina, and focuses on commercial and securities litigation [4].

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices involving NWTN Inc. and its officers or directors [1] Group 1: Company Compliance Issues - On May 24, 2024, NWTN announced it received a letter from Nasdaq indicating non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Annual Report on Form 20-F for the year ended December 31, 2023 [2] - NWTN has until July 22, 2024, to submit a plan to regain compliance with Nasdaq [2] - Following this announcement, NWTN's stock price dropped by $0.58, or 14.43%, closing at $3.44 per share on May 28, 2024 [2] Group 2: Legal Context - Pomerantz LLP is recognized for its expertise in corporate, securities, and antitrust class litigation, having recovered billions in damages for victims of securities fraud and corporate misconduct [3]