AERWINS Technologies Inc. announced that in order to facilitate the smooth delivery of air mobility vehicles in the Middle East, the Company and the Company's wholly owned subsidiary, A.L.I. Technologies Inc., has entered into a Joint Venture Agreement with Vault Investments LLC, pursuant to which A.L.I. Technologies Inc. agreed to establish a joint venture company in the United Arab Emirates (“U.A.E.”) as a production and marketing base for the AERWINS air mobility products and solutions in the U.A.E. AERWINS believes this initiative will provide a pipeline to the U.A.E and Middle East governments and markets, as well as accelerate the delivery of the products and solutions to the Gulf Cooperation Council region. AERWINS is planning to conduct a flight demonstration in the U.A.E. this spring to relevant entities and institutions.