UAE – Mubasher: W Motors, the first manufacturer of high-performance luxury Hypercars across the Middle East, has partnered with Nasdaq Dubai on Monday to address further expansion.
The Dubai-based W Motors’ relationship with investors will be significantly enhanced, being a member in a regional international exchange, Nasdaq Dubai’s CSD (Central Securities Depository), in addition to signalling a variety of financing solutions in the future, according to a press release.
W Motors’ offering mix has been further diversified to include an ultimate policing solution through the Ghiath Dubai Police car. Moreover, W Motors has launched an autonomous driving program with the first UAE self-driving car, in line with its development plans whether on local or regional scales.
Moreover, W Motors announced the launch of W Motors Automotive Group Holding Limited as a holding company in the Dubai International Financial Centre (DIFC).
On this occasion, W Motors’ founder and CEO, Ralph R. Debbas, said “Aligning our brand with Nasdaq Dubai is a significant step for us in line with our expansion plans, our imminent Automotive Facility launch, and the development of our upcoming models as well as the development of our electric and autonomous divisions.”
“The Nasdaq Dubai CSD for us is a strategic step in line with the announcement of our upcoming private capital raise, as we pursue our mission to bring next-generation automotive technology to the region and develop its talent base. Nasdaq Dubai’s respected share hosting infrastructure and high international profile will enhance our relationship with investors as we implement the next phase of our development,” he added,
Spanning 120,000 square feet, W Motors’ automotive facility will bring Debbas’s vision of a solid regional automotive industry to light.
“Transfers of ownership of all shares in W Motors Automotive Group Holding Limited will take place securely in Nasdaq Dubai’s CSD. Trading will take place off-exchange and W Motors remains a privately held company,” the press release said.
Meanwhile, chief executive of Nasdaq Dubai, Hamed Ali, commented, “The arrival of shares of one of the world’s most exciting and high-profile car companies on Nasdaq Dubai’s CSD is a step forward in the region’s ability to provide cutting edge businesses with solutions to help them engage with investors and expand. The CSD provides streamlined processes for companies that can be a first step along the route towards raising funds as a public company at the appropriate time.”
It is worthy to highlight that W Motors has a number of subsidiaries across the UAE, including a Department of Economic Development (DED) branch, an LLC and a Dubai Silicon Oasis (DSO) Manufacturing Company
The firm further has a strong global footprint, actively expanding in China through its partnership with ICONIQ MOTORS producing mass electric special electric vehicles (SPVs) for the Chinese market.
