UAE – Falak Motors will be the first “Made in UAE” automotive brand to assemble luxury electric vehicles (EVs) with parts, chassis, motors and batteries imported from Japan, Taiwan, China and the EU , said Hideki Tamaki, founder of Falak Motors.
The brand has exclusive partnerships with more than 25 leading engineering companies to manufacture electric vehicles, including buses, trucks, taxis, delivery bikes, and economy and luxury vehicles.
The Dubai International Financial Center-based company plans to raise $10 million in an exclusive equity financing commitment to expand Falak Motors in the United Arab Emirates.
“Our conservative 5-year growth forecast, illustrated in Falak’s investment memorandum, represents a cumulative EBITDA of $96.3 million at the end of the 24-month period ending September 2024,” Tamaki said. .
“Additionally, during this period, the region sees COP 28 UAE, which will ensure additional growth, as well as two IPO scenarios to enhance equity value. Falak Motors will also plan to publicly list on a local scholarship in the United Arab Emirates in the third year after its establishment.
The company – which connects Japan and the GCC to impact investing – has Japanese EV founders, investors, entrepreneurs and experts.
Tamaki – in his early 50s, a graduate of the Kyoto National Institute of Technology – said: “We are going to establish a charging infrastructure and electric vehicle company based on Japanese technology in the United Arab Emirates. I have built a supply chain of over 20 EV manufacturers across East Asia, utilizing the vast network cultivated in Japan, China, Taiwan, Hong Kong, etc.
Tamaki is optimistic about the UAE’s growth as it strives to build a sustainable economy. The future lies in providing clean, zero-carbon energy.
The UAE production facilities will be put in place over the next 4-6 months and the assembly plant in the UAE will start operating in 2024.
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