Middle Eastern virtual currency company Robo.ai applies to participate in the strategic investor selection for Ji Yue Auto's pre-restructuring.

PANews, December 31—According to an article by an analyst from Jiazi Guangnian, a Middle Eastern virtual currency company has set its sights on Jiyue. On December 19, Robo.ai, a technology company headquartered in Dubai, UAE, announced that it had officially submitted materials to the interim administrator of Jiyue Auto, applying to participate in the selection of strategic investors for its pre-restructuring process. This technology company, Robo.ai, completed a name change, built a token payment system, integrated with a digital bank, and entered the aviation and new energy vehicle industries—all within just four months. On August 12 this year, Newton Group officially changed its name to “Robo.ai Inc.” and continued trading on the Nasdaq under the new ticker symbol “AIIO.” Just one month after the name change, Newton Group quickly invested in the DePIN project Arkreen and planned to jointly develop a stablecoin payment system and use a token mechanism to support cross-border transactions and ecosystem settlements.

However, based on public information, Jiyue Auto does not appear to have proactively engaged with virtual currency companies. Robo.ai’s application to participate in the selection of strategic investors for its pre-restructuring process seems to be a unilateral move. The interim administrator of Jiyue Auto also responded to National Business Daily, stating: “The progress of introducing strategic investors is still under negotiation. As for Robo.ai Inc. submitting application materials, we are not aware of it, and it is not convenient to disclose specific application details at this time.”