NExT announces a new investment and partnership in UAE
NEXT MODULAR VEHICLES, NEW 2.5 MILLION EURO INVESTMENT. GECCHELIN: 'NOW A BUSINESS PLAN TO REVOLUTIONISE URBAN MOBILITY'
The Italian company, which has long since established an operational office in Dubai, continues to welcome new strategic investors as in this case where, in addition to financial support its first assembly site out of Italy, business contacts and qualified personnel have been made available for the production of NExT vehicles.
Padua, 17 July 2023 - NExT SRL, the Italian company that manufactures NEXT Modular Vehicles, the first mobility system with modular electric vehicles capable of responding both to typical public transport needs and of being configured for on-demand use when required, announces announces the signature of the investment agreement for the entry of Paradigma Management Consultancies LLC into its shareholding structure, which will strengthen the already existing partnership with an investment of EUR 2.5 million.
Paradigma Management Consultancies LLC is a company incorporated in the United Arab Emirates and participated by Paradigma SRL - an Italian incubator certified by the Italian Ministry of Enterprise and Made in Italy, already a partner of NExT in Italy - and a pioneering automotive and insurtech group with top experience in Middle East and India, who will be the first leading investor in the company outside Italy.
NExT has long been present in Dubai where the NEXT modular vehicles, after an important endorsement by His Highness Sheikh Mohammed bin Rashid Al Maktoum, had been presented as a world premiere in prototype form at the 2018 World Government Summit and then as a pre-series during EXPO 2020 gathering the interest of numerous partners and investors including the Road and Transport Authority (RTA). Paradigma Management Consultancies LLC and its partners will be instrumental in moving to the operational phase in the UAE, thanks to a major financial contribution and the provision of an assembly site, business contacts and highly qualified personnel, essential for production.
"This agreement represents an important step in the direction of the growth of NEXT as a concrete solution for the public transport of the future," explains Tommaso Gecchelin, founder, CEO and CTO of NExT, the manufacturer of NEXT Modular Vehicles. "We are proud and grateful for this partnership, with the aim to revolutionize mobility thanks to a new transport model that overcomes the traditional rigidity of today's vehicles with a flexible approach based on the integration of bigdata and our unique modular vehicles. A model that sees these modules collaborating and adapting in real time to the needs of the city, like 'transport stem cells'.
"We are delighted to announce our strong partnership with NExT”, declares Antonio Guadagnino, partner of Paradigma Management Consultancies LLC. "We fully embrace its vision to contribute with high-impact projects to the achievement of the SDG goals. NEXT is a revolutionary mobility system, expected by many cities and considered by international experts as a benchmark for efficiency and traffic reduction that cannot be matched by traditional vehicles. We are also very pleased to support and enrich this vision with experience in all those strategic markets where NEXT modular vehicles are garnering a great deal of interest."
How NEXT works
NEXT is an advanced intelligent transport system based on swarms of modular electric vehicles. Each module can join and break away from other modules on standard urban roads.
When they join, they create an open corridor between modules, allowing passengers to stand and move easily from one module to another.
Modularity, in innovative cities such as Dubai, allows for transhipment on the move, which optimizes the capacity of the system, reduces fuel consumption, operating costs and traffic by more than 60 per cent, and increases capillarity and passenger comfort, like an advanced on-demand shared taxi system, but with no intermediate stops and no waiting time.
But NEXT can also be applied to much simpler and easily implemented contexts such as the 'variable capacity bus' scenario. In this case, the bus driver chooses hour by hour, on the basis of the data provided by NEXT, how many docked modules to use for the traditional scheduled service and how many to leave at a stop or recharge, thus adapting supply to demand. A scenario that without autonomous driving and multiple drivers still guarantees energy and maintenance cost savings of more than 50%.
In addition, NEXT can be used in countless other areas, including retail and on-the-move services, healthcare, security, cargo transport and airport services.
NExT SRL is the manufacturer of NEXT, an advanced intelligent transport system based on modular electric vehicle assemblies.