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The DIFC-based company plans to raise $10 million through an exclusive equity financing program to develop Falak Motors in the UAE.
Hideki Tamaki, founder of Falak Motors. — photos provided
Hideki Tamaki, founder of Falak Motors, said Falak Motors will be the first “Made in the UAE” car brand to assemble a luxury electric vehicle (EV) using components, chassis, motors and batteries imported from Japan, Taiwan, China and the European Union.
The brand has exclusive partnerships with more than 25 advanced engineering companies to produce electric vehicles, including buses, trucks, taxis, delivery bikes, and economy and luxury vehicles.
The Dubai International Financial Centre-based company plans to raise $10 million through an exclusive equity financing program to develop Falak Motors in the UAE.
“Our conservative 5-year growth forecast (as indicated in Falak’s investment memorandum) shows cumulative EBITDA of $96.3 million at the end of the 24-month period ending September 2024,” Tamaki said.
“Furthermore, during this period, the region will see COP 28 UAE, which will ensure increased growth, as well as two IPO options to enhance equity value. Falak Motors will also arrange for a local exchange in the UAE in the third year of its establishment. public listing.”
The company connects Japan and the GCC through impact investing and features Japanese founders, investors, entrepreneurs and electric vehicle experts.
Tamaki, a graduate of the National Kyoto Institute of Technology in his early 50s, said: “We will build an electric vehicle and charging infrastructure company in the UAE based on Japanese technology. Using the extensive network established in Japan, China, Taiwan, Hong Kong, etc., A supply chain of more than 20 electric vehicle manufacturers has been established throughout East Asia.”
Tamaki is bullish on the UAE’s growth as it strives to build a sustainable economy. The future is all about providing clean energy and zero carbon emissions.
The production facility in the UAE will be inaugurated in the next 4-6 months, and the assembly plant in the UAE will start operations in 2024.
— sandhya@khaleejtimes.com
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