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Dubai Maker of $3.4 Million Supercar Seeks Funds to Go Electric

  • W Motors seeking to raise up to $100 million for expansion
  • New plant in Dubai to help establish domestic car industry
Ralph Debbas with a Fenyr SuperSport in Dubai, on Feb. 16.
Ralph Debbas with a Fenyr SuperSport in Dubai, on Feb. 16.Photographer: Christophe Viseux/Bloomberg
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The maker of a $3.4 million supercar that can hit speeds of almost 250 miles per hour has sensed the time is right to target a wider audience by going electric.

Dubai-based luxury carmaker W Motors has hired investment bank Guggenheim Partners to help raise as much as $100 million to back expansion and its push into electric vehicles, founder Ralph Debbas said in an interview.