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Success in less than 2 years for W Motors: 400% Growth Rate


According to CEO Ralph Debbas, Dubai-based car manufacturer W Motors reveals 400% growth in less than 2 years and is holding off growth in Saudi Arabia as it's difficult to attract international talent to live in kingdom.


The company is recognized for making multi-million dollar cars, including the $3.4m Lykan Hypersport that featured in American action film Fast & Furious 7 in the famous scene that saw it crash through Abu Dhabi’s talent skyscrapers Etihad Towers.


The company also has an electric car making division called Iconiq, which it launched in partnership with a Chinese firm to develop level 4 and 5 autonomous cars. W Motors expects further growth in November this year, as it plans to open its new factory, a research and development centre as well as a tech lab in Dubai Silicon Oasis said Debbas, Speaking to Arabian Business.


It will also expand its offices in Shanghai and Beijing from 270 employees to 1,000 by the end of 2019.However, W Motors is holding off expansion in Saudi Arabia, despite being suggected “many times” to build a factory in the kingdom, according to Debbas.


W Motors’ biggest markets are currently China and the US, though it saw a boost in hypercar customers from Germany and Switzerland.


Source : arabianbusiness.com
Posted on :4/8/2019