Tesla Cars to Hit UAE Streets in Days

DUBAI - Speedy electric cars will soon compete with gas-guzzling SUVs on Abu Dhabi streets as the oil-exporting emirate buys into alternative energy, including, on Monday, a stake in electric-car start-up Tesla Motors Inc.

By (Reuters)

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Published: Wed 15 Jul 2009, 1:29 AM

Last updated: Thu 2 Apr 2015, 7:35 AM

Aabar Chairman Khadem Al Qubaisi, who led the purchase of a 4 per cent Tesla share from Daimler AG, said the stake was one of several more planned as the world’s third-largest oil exporter spends big on non-oil-related energy technology. “It’s a small per cent but the issue is more psychological,” Qubaisi told Reuters in an interview.

Abu Dhabi has pushed hard to establish itself as a leader in renewable and clean technologies, and includes its $22 billion effort to build the carbon-neutral, solar-powered Masdar City for 50,000 residents in the desert.

Last month, the UAE was named home to the 135-nation International Renewable Energy Agency, Irena.

Qubaisi said he expected the ultra-sleek Tesla cars to hit the streets of Abu Dhabi in a matter of days, where they will compete with fleets of lumbering sport-utility vehicles, the automobile of choice for many Emiratis.

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