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NWTN Inc is a pioneering smart electric vehicle company that integrates avant-garde design, lifestyle personalization, IoT connectivity, and autonomous driving technology into a passenger-centric green premium mobility solution. The company's commitment to innovation and sustainability sets it apart in the rapidly evolving electric vehicle industry.
NWTN and W Motors Automotive Group have announced a strategic joint venture to expand their automotive business through various mobility projects. The partnership, announced on January 14, 2025, in Dubai, UAE, will merge NWTN's network and market access with W Motors' design and technology expertise.
The collaboration focuses on developing and manufacturing mid-luxury vehicles, security and enforcement vehicles, and sustainable mobility solutions. A key aspect of the joint venture involves localizing manufacturing and assembly operations by utilizing W Motors' existing infrastructure in the UAE. The partnership encompasses joint efforts in research and development, manufacturing processes, and market expansion strategies.
NWTN has received a delisting determination notice from Nasdaq due to failing to file its 2023 Annual Report and regain compliance with Listing Rule 5250(c)(1) by November 11, 2024. Unless appealed by November 19, 2024, Nasdaq will suspend trading of NWTN's ordinary shares and warrants on November 21, 2024. The company intends to request a hearing to appeal the determination and seek an extended stay of the trading suspension. NWTN is working to file the 2023 Annual Report but cannot guarantee regaining compliance or maintaining Nasdaq listing.
NWTN Inc. (Nasdaq: NWTN), an eco-conscious mobility technology company, has been granted an extension by Nasdaq to file its Annual Report on Form 20-F for the fiscal year ended December 31, 2023. This extension comes after NWTN received a deficiency letter on May 22, 2024, for non-compliance with Listing Rule 5250(c)(1). NWTN submitted a plan to regain compliance, which Nasdaq has accepted.
Under the terms of the exception, NWTN must file the 2023 20-F on or before November 11, 2024. Failure to meet this deadline may result in delisting, subject to appeal. NWTN is working diligently to complete and file the report as soon as possible within the given timeframe.
NWTN, an eco-conscious mobility technology company, has received a notification from Nasdaq concerning its delayed Annual Report on Form 20-F for the year ending December 31, 2023. Nasdaq has stated that NWTN is not in compliance with Listing Rule 5250(c)(1), but this notification does not immediately affect the listing or trading of NWTN's securities. The company has until July 22, 2024, to submit a compliance plan, which, if accepted, could grant them up to November 11, 2024, to meet the requirements. Failure to comply could result in delisting, though NWTN is working diligently to resolve the issue.
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