UAE-based NWTN strikes MoU with Elfaba Investment

By Shilpa Annie Joseph, Official Reporter
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NWTN-Elfaba sign MoU
Officials during the signing ceremony.

UAE-based intelligent electric vehicle (EV) company, NWTN has signed a memorandum of understanding (MoU) with Elfaba Investment and Advisory (Elfaba) for the sales and purchase of products of NWTN and Rabdan brands across more than seven countries.

NWTN is a pioneering green energy company dedicated to providing passenger-focused, premium electric vehicle products and green energy solutions to customers worldwide.

NWTN has a full vehicle assembly facility in Abu Dhabi and a supply chain manufacturing base in Jinhua, China.

The MoU stipulates that NWTN will authorize Elfaba as the NWTN and Rabdan brand distributor for a period of five years, enabling the sale of NWTN and Rabdan vehicles, parts, and accessories together with the provision of after-sales services.

The deal also stipulates that Elfaba will aim for sales of up to 5,000 vehicles. A definitive agreement is targeted to be signed by the end of April 2023, according to the company.

Rabdan is an NWTN brand of intelligent new energy vehicles and encompasses a full range of intelligent new energy passenger vehicle products from the extended range to pure electric technology solutions.

Rabdan products will integrate the most advanced technologies and resources in the global new energy vehicle industry as well as surpass traditional fuel vehicle products in many aspects, from the driving experience and intelligent comfort to energy saving and emissions reduction. It aims to define a new category of traveling and lifestyle, as per the statement.

Earlier this year, NWTN delivered 20 range-extended electric vehicles (R-EEVs) to M93 CAR RENTAL at its newly constructed facility in the Khalifa Economic Zones Abu Dhabi (KEZAD).

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