NWTN appoints new CFO and COO to drive strategic transformation

DUBAI - NWTN Inc. (NASDAQ:NWTN), a UAE-headquartered company with a market capitalization of $467.52 million, has appointed Adrian Wong as Chief Financial Officer and John Xie as Chief Operating Officer, effective July 3, 2025, according to a press release statement issued Monday. According to InvestingPro data, the company’s stock has shown remarkable momentum, gaining over 127% year-to-date.

The executive appointments come as part of NWTN’s strategic shift from a new energy vehicle specialist to a global smart technology platform. These appointments follow the May 13 naming of Benjamin Zhai as Global CEO, at a time when the company faces challenges with profitability, reporting revenue of $11.99 million in the last twelve months.

Wong brings nearly two decades of experience from institutions including Morgan Stanley and China Galaxy International Securities. He holds degrees from the Wharton School and the Chinese University of Hong Kong, with expertise in strategic financing, mergers and acquisitions, IPOs, and capital operations.

Xie, a Jilin University graduate in Business Administration, previously served as Secretary-General of the NIO Users Trust and Chairman of the NIO Users Foundation. His background includes experience at Raytheon Professional Services and BMW.

"We welcome these accomplished international executives to NWTN during our transformation," said Zhai in the announcement. "Mr. Wong’s capital market and investment experience and Mr. Xie’s operational expertise are vital to building our smart technology platform."

NWTN describes its strategy as integrating Asia-Pacific supply chain capabilities with the UAE’s strategic position and access to global capital markets. The company specializes in intelligent electric vehicles, AI-driven hardware, and blockchain-based products for advanced manufacturing. Trading at $1.60 per share, the stock has demonstrated strong momentum with a 91% gain over the past six months. InvestingPro subscribers can access additional insights, including 8 more key tips about NWTN’s financial health and market position.

In other recent news, NWTN Inc. announced that it has regained compliance with Nasdaq’s Periodic Filing Rule, ensuring its securities will continue to be listed on the Nasdaq Capital Market. This development follows the company’s submission of its overdue 2024 Annual Report to the Securities and Exchange Commission, which led Nasdaq to cancel a previously scheduled hearing regarding the delisting. Meanwhile, NWTN has also unveiled plans to build an AI industrial park in Abu Dhabi, marking a strategic shift towards becoming a broad-based intelligent technology producer. The facility, named the "NWTN AI Industrial Park," will focus on AI manufacturing and smart technology, aiming to serve markets in the Middle East, Africa, and Southern Europe.

In another development, NFT Limited has entered into a $20 million convertible note agreement with non-affiliated investors, as disclosed in a recent SEC filing. The notes, which are convertible into Class A ordinary shares, carry an annual interest rate of 5% and have a maturity period of 36 months. This financial move is part of NFT Limited’s strategy to bolster its financial position while maintaining its Nasdaq listing. Investors will be observing how the company utilizes this capital influx and its potential impact on its financial health.

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