From the Brink of Collapse to a Bold Comeback
Just when Dubai’s futuristic e-racing startup was losing steam, it found its second wind, thanks to a $20 million investment from Kazakh billionaire Shukhrat Ibragimov. Once hailed as the next big thing in electric motorsports, the company had been struggling to stay afloat. Now, Ibragimov’s entry has the potential to not only save the company but also spark new life into UAE’s e-mobility scene.
A Startup That Went from Hot to Cold
Not long ago, this Dubai-based e-racing startup was making headlines with its vision of eco-friendly, high-octane racing. With test races, celebrity collabs, and futuristic vehicles, the excitement was real.
But under the hood, things were breaking down:
- ❌ Mounting debts
- ❌ Pulled sponsorships
- ❌ Layoffs and operational chaos
By early 2025, insiders feared the company would shut down for good.
Enter, Shukhrat Ibragimov
Then came a surprise twist—Shukhrat Ibragimov, known for his energy and tech ventures, swooped in with a $20 million private investment through his family office.
“Every industry needs a second wind. I believe this company has the DNA to redefine racing and mobility in the region.” — Ibragimov
His move raised eyebrows across the tech and automotive world. But given his track record of turning distressed businesses into winners, his involvement signals more than just cash—it brings vision, strategy, and credibility.
Where Will the Money Go?
The investment is part of a larger turnaround strategy, with key areas of focus:
- ✅ Tech Upgrades – Enhanced battery life, AI integrations, and smarter racing systems
- ✅ Talent Acquisition – Hiring top engineers, esports talent, and brand experts
- ✅ Track Expansion – Plans to build racing circuits in the UAE and KSA
- ✅ Brand Relaunch – A total rebrand to reconnect with fans and attract new partners
A leadership shake-up is also expected, with Ibragimov’s advisors joining the executive team.
Why This Matters for UAE
This deal revives hope not just for the company, but for Dubai’s ambitions in green mobility. The UAE has committed to a cleaner, smarter transport future under Vision 2030, and e-racing is a flashy, exciting way to engage youth, tech talent, and investors.
“The market is young. It’s not too late for a comeback.” Dubai-based mobility analyst
The Road Ahead
The company plans to launch its first official race under a new brand by Q4 2025, with community-driven initiatives involving:
- Gamers
- Designers
- Influencers
- Clean-tech startups
If successful, this could become the UAE’s flagship example of how entertainment and sustainability can collide at high speed.
Ibragimov’s Bigger Play?
This might be just the beginning. With interests in AI, smart cities, and green tech, Ibragimov could be laying the groundwork for a regional e-mobility innovation hub, based right in Dubai.