A vintage Volkswagen beetle car at an auto show in Hanover, Germany. Agence France-Presse
Volkswagen plans to build a fully electric sports utility vehicle (SUV) for China from 2021, taking on the Chinese market leader Tesla’s Model X as the German carmaker ramps up production of zero emissions vehicles. The planned new SUV is the latest move in Volkswagen’s aggressive growth strategy in China, where electric cars are given preferential treatment by authorities.
Volkswagen is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said. The move by VW, the largest foreign automaker in China, to buy into Anhui Jianghuai Automobile Group (JAC Motors) is the latest by foreign automakers to boost ownership
Etihad Rail, the developer and operator of the UAE national railway, has approved the award agreement for civil and track works of Packages B and C for Stage Two of the UAE national railway network connecting Abu Dhabi and Dubai,
Trade anxiety and escalating tensions between the United States and Iran sent gold soaring to a six-year high on Tuesday, and saw traders dive back into safe-harbour government bonds and the yen and Swiss franc at the expense of the dollar.
The Abu Dhabi Government, under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces,