Falak Motors set to launch ‘Made in UAE’ electric vehicles

The DIFC-based company is planning to raise $10 million on an exclusive equity finance engagement to develop Falak Motors in the UAE.



Hideki Tamaki, founder, Falak Motors. — Supplied photo
Hideki Tamaki, founder, Falak Motors. — Supplied photo
by

Sandhya D'Mello

Published: Fri 9 Sep 2022, 7:28 PM

Last updated: Fri 9 Sep 2022, 7:30 PM

Falak Motors will be the first "Made in UAE" automotive brand assembling luxury electric vehicles (EVs) with parts, chassis, motors, and batteries imported from Japan, Taiwan, China, and the EU, said Hideki Tamaki, founder, Falak Motors.

The brand has exclusive partnerships with over 25 advanced engineering firms to manufacture EVs, including buses, trucks, taxis, delivery bikes, and economical and luxury vehicles.

The Dubai International Financial Centre-based company is planning to raise $10 million on an exclusive equity finance engagement to develop Falak Motors in the UAE.

“Our conservative 5-year growth forecast, illustrated in Falak's investment memorandum, depicts an accumulated EBITDA of $96.3 million at the end of the 24-month period ending September 2024,” said Tamaki.

“Further, during this time, the region sees COP 28 UAE, which will ensure added growth, as well as two IPO scenarios to enhance the value of equity. Falak Motors will schedule to publically list on a local exchange in the UAE during the third year from inception too.”

The company — which bridges Japan and the GCC with impact investing — has Japanese founders, investors, entrepreneurs, and EV experts.

Tamaki — in his early fifties graduated from the National Kyoto Institute of Technology — said: “We will establish an EV and charging infrastructure company based on Japanese technology in the UAE. I have built a supply chain of more than 20 electric vehicle manufacturers throughout East Asia, using the extensive network cultivated in Japan, China, Taiwan, Hong Kong, etc.”

Tamaki is bullish about the UAE’s growth as it strives to build a sustainable economy. The future is all about delivering clean energy and zero-carbon emission.

The UAE production facilities will set-in stone over the next 4-6 months and assembly plant in the UAE will start operation in 2024.

— sandhya@khaleejtimes.com


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