In a small but significant move towards becoming a global hub of green energy, Abu Dhabi on Monday bought a stake in a Silicon Valley start-up that makes high-performance electric sports cars. Aabar Investments, a subsidiary of government of Abu Dhabi-owned International Petroleum Investment Company, said that it acquired four per cent stake in Tesla Motors owned by the German automaker Daimler. The company did not disclose the cost.
The move comes just two weeks after the city was elected to host the International Renewable Energy Agency. The agency’s headquarters will be located in the world’s first carbon-neutral and zero-waste township Masdar City.
With its expertise in battery- operated performance cars, Tesla Motors might also help in providing personal rapid transit systems as planned in Masdar City. The company currently makes one car, Roadster, which can zoom up to 100kmph in under four seconds. – Khaleej Times
