Navitas stock soars as company advances 800V tech for NVIDIA AI platforms
DUBAI - Robo.ai Inc. (NASDAQ:AIIO), a technology company with a market capitalization of $441 million that has seen its stock surge over 287% in the past six months despite a recent 22% weekly decline, announced Thursday that its subsidiary Astra Mobility Meta has entered into a commercial agreement with Dubai-based W Motors Automotive Group to develop and produce electric last-mile and autonomous multi-purpose vehicles.
Under the agreement, W Motors plans to procure at least 30,000 vehicles from Astra over the next five years following successful development and testing phases. According to InvestingPro analysis, Robo.ai maintains impressive gross profit margins of 54.5%, though the company is currently operating at a loss with negative EBITDA of $84 million.
The collaboration covers vehicle design, development, validation, and production for multiple applications including last-mile delivery, shared mobility, smart logistics, and autonomous vehicles. Astra will lead product design and development, while W Motors will handle local manufacturing and assembly at its facility in Dubai Silicon Oasis. For detailed analysis of Robo.ai’s financial health and 13 additional exclusive ProTips, investors can access InvestingPro.
The companies expect a 12-month development cycle with production targeted for 2026. The first proof-of-concept vehicle is expected within three months of signing, with initial deployment in the UAE before expanding to the broader Gulf Cooperation Council region.
"By pairing Astra’s EV and autonomous technologies with W Motors’ market insight and operational capability, every vehicle becomes a node for energy data and digital asset value," said Lawrence Chao, President of Astra Mobility Meta, in the press release.
The vehicles will be connected to Arkreen’s green-energy data network and blockchain framework, enabling on-chain records for charging, energy use, and mobility data. While the company operates with a moderate debt level and maintains strong free cash flow yield, InvestingPro data indicates its short-term obligations currently exceed liquid assets, with a current ratio of 0.3.
W Motors, founded in 2012 and known for developing the Lykan HyperSport supercar, has evolved into a mobility solutions provider with experience in smart patrol vehicles for Dubai Police.
The information in this article is based on a press release statement from Robo.ai Inc.
In other recent news, Robo.ai Inc. reported several significant developments. The company announced a $300 million investment led by Burkhan Capital LLC, aimed at accelerating its growth in AI-enabled technology, with the transaction expected to close within 30 days. Additionally, Robo.ai unveiled "Roboy339," a smart vehicle featuring a digital wallet for autonomous real-time payments, in collaboration with Changer.ae. In a move to expand its green mobility solutions, Robo.ai formed a joint venture with Pakistan’s JW Group, named RoBUS, and appointed River Zhang as Chief Industrial Officer and President of RoBUS.
Furthermore, Robo.ai has made a strategic investment in Arkreen, a decentralized physical infrastructure networks company, to explore Web3 integration. The company also finalized a joint venture agreement with JW Group and Ferox Investments L.L.C. to establish Robo.ai Industrial City in Dubai Industrial City. This industrial hub will focus on smart mobility, smart city, and smart asset technologies. These recent developments highlight Robo.ai’s strategic efforts to enhance its technological and operational capabilities.
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