On September 20, the commencement ceremony of Newton China New Energy Automobile Super Factory was held in Jinhua Science and Technology City.

The Newton New Energy Automobile Super Factory is the first one invested by Newton in China. It is a major manufacturing project with a total investment of 10 billion RMB. The factory covers an area of more than 700 mu and hosts a design capacity of 100, 000 sets per year. It will be put into production in 2024. Newton is expected to become a representative of intelligent manufacturing in the Jinyi New Area of Jinhua City, and even the whole of Zhejiang. It represents a new generation of intelligent model new energy vehicle production sites with its advantageous factory, varied product concepts, and excellent technical capabilities.

By the end of July, Newton had reached a PIPE investment subscription agreement with institutional investors such as Jinhua local state-owned assets and the Office of the Crown Prince of the United Arab Emirates. The total investment reached 600 million USD. On July 26, Newton announced that it would submit a public prospectus to the U.S. Securities Regulatory Commission, which marked Newton as entering the sprint stage of the U.S. stock listing.

Research shows that by 2030, the valuation of the global electric vehicle market will increase five times to 823.74 bn USD, with a compound annual growth rate of 18.2%. The high-profile market prospect, the upgrading and reshaping of the industrial chain under the new wave of intelligence, and rising consumer willingness have all driven electric vehicle research to continue to lead scientific and technological innovation and industrial breakthrough. The listing work has been steadily promoted in the same period as the introduction of the super factory and Greater China headquarters in the Jinyi New Area. Newton will receive solid support in mass production preparation and capital markets, and they will soon enter the fast lane of globalization development. (Translated by Huang Dan, edited by Daniel Haws)