NWTN appoints former Barclays exec Yehong Ji as independent director

DUBAI - NWTN Group (NASDAQ:NWTN), a smart technology company with a market capitalization of $342 million, has appointed Yehong Ji, former Vice Chairman of Greater China Banking at Barclays, as an Independent Director following shareholder approval at an Extraordinary General Meeting held on Monday. InvestingPro data shows the stock has gained 95% over the past six months, despite recent volatility.

Ji brings over 30 years of investment banking and financial experience to the UAE-headquartered smart technology company. His career includes leadership positions at Barclays, ICBC International, J.P. Morgan Securities, Credit Suisse, and Citigroup. According to InvestingPro analysis, NWTN currently operates with a moderate debt level and maintains a ’Fair’ overall financial health score, though it faces challenges with profitability.

The new board member currently serves as Senior Advisor in Barclays’ Singapore Investment Banking Division and has experience leading overseas IPOs, bonds, and M&A transactions for Chinese enterprises.

According to a company press release, Ji’s appointment is expected to enhance NWTN’s governance capabilities while supporting its strategic initiatives, including potential blockchain and digital asset developments.

"His extensive background in global capital operations, technological innovation, and ESG implementation will provide practical support for strategic decision-making," said Benjamin Zhai, NWTN’s Executive Director and Chief Executive Officer.

NWTN, which focuses on smart mobility, advanced manufacturing, and blockchain solutions, is reportedly transitioning to the corporate name Robo.ai Inc.

Ji holds bachelor’s degrees in International Trade from the University of International Business and Economics and Applied Mechanics from Chongqing University. For deeper insights into NWTN’s financial metrics and 9 additional exclusive ProTips, visit InvestingPro.

In other recent news, NWTN Inc. has secured a significant $100 million investment from SEET LLC, a subsidiary of Medad Holding, a UAE investment institution. This deal will make SEET the largest single shareholder of NWTN, as they acquire newly issued shares. Additionally, NWTN has announced a partnership with Changer.ae to introduce stablecoin solutions, aiming to integrate these digital assets into smart mobility, manufacturing, and digital asset management. In a strategic move, NWTN has also signed an agreement with Pakistan’s JW Corporation for exclusive rights to use its automotive assembly facility in Lahore and access to a vast distribution network across Pakistan.

Further developments include NWTN’s proposal to change its name to "Robo.ai Inc.," which will be voted on at the upcoming extraordinary general meeting. The company also plans several corporate governance changes, such as appointing Yehong Ji as a new independent director. However, NWTN has withdrawn a proposal to remove certain directors from the voting agenda for this meeting. These recent actions highlight NWTN’s efforts to expand its reach and adapt its corporate structure.

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