Meet Robo.ai: The global AI robotics platform that evolved out of NWTN

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NWTN (NASDAQ:NWTN [https://seekingalpha.com/symbol/NWTN]) disclosed that shareholders approved the official name change of the company to Robo.ai. The company anticipates that the Class B ordinary shares will begin trading on the Nasdaq Stock Market LLC under the new name at the open of market trading on August 26. In addition, the company’s ticker symbol for its Class B ordinary shares will change to AIIO.

The rebranding is described as part of a strategic shift, with additional changes including amending the company's governing documents and the appointment of a new independent director, Yehong Ji.

NWTN (NASDAQ:NWTN [https://seekingalpha.com/symbol/NWTN]) is pivoting from its roots as an electric vehicle manufacturer to a broader global smart technology platform with an intense focus on artificial intelligence, robotics, and smart manufacturing. The transformation is noted to be anchored on the pillars of expanding into autonomous logistics and smart devices, building the Abu Dhabi AI Industrial Park to enhance advanced manufacturing, and creating a new model that fuses technology, manufacturing, and capital. The company plans to leverage the UAE’s policy support and global strategic position o achieve its targets,

The new strategy is supported by a $100 million investment from SEET LLC to accelerate cross-sector innovation across smart mobility, AI-driven logistics, and green energy. Simultaneously, the company is restructuring its board by removing multiple independent directors and consolidating voting power.

Shares of NWTN (NASDAQ:NWTN [https://seekingalpha.com/symbol/NWTN]) jumped 8.1% in Monday morning trading to $1.20 vs. the 52-week range of $0.30 to $3.48.

MORE ON ROBO.AI INC.

* NWTN Inc.: Reflexivity Risks Abound With Capital Raising Needed [https://seekingalpha.com/article/4809460-nwtn-inc-reflexivity-risks-abound-with-capital-raising-needed]
* Financial information for Robo.ai Inc. [https://seekingalpha.com/symbol/NWTN/income-statement]