DIFC-based Falak Motors to launch ‘Made in UAE’ electric vehicles

By Arya M Nair, Intern Reporter
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Electric Vehicle
Representational news

Falak Motors, the Dubai International Financial Centre (DIFC)-based company 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.

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

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

Mr. Hideki Tamaki, founder, Falak Motors said that “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 months ending September 2024. 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.”

Mr. Tamaki also added that “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.”

Falak Motors is optimistic about 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 be set-in stone over the next 4-6 months and the assembly plant in the UAE will start operation in 2024.

Related: KIZAD & NWTN unite to set up 1st EV assembly facility in Abu Dhabi


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