Auto Sector

Evora Type 124 Endurance Racecar launched by Lotus

Today, Lotus, a brand born of racing, launched its latest Evora Type 124 Endurance Racecar, which is based on the 2010 Lotus Evora road car.

The magnificent sedan by Lotus is equipped with a 400-horsepower; and is a safety-caged, FIA-compliant racing car, developed to deal with the most complicated sort of racing any one can find on asphalt: endurance racing.

In order to ensure high performance, Lotus slashed the car's curb weight by 440 pounds to 2,640 pounds.

Al Habtoor Group acquires Diamondlease

Dubai-based Al Habtoor Group has acquired full ownership of automobile rental firm Diamondlease.

ALJ Lubnatsi Marketing picks 65% stake from Sabanci Holding in ToyotaSA

ALJ Lubnatsi Marketing and Sales PLC, a subsidiary of Saudi Arabia-based Abdul Latif Jameel Co. (ALJ), has finally acquired 64.99% stake of Turkey-based Sabanci Holding in ToyotaSA.

Sabanci Holding is the parent company of the Sabanci Group, Turkey's leading industrial and financial conglomerate.

Under the arrangement, ALJ Lubnatsi will become the major shareholder in the Toyota Turkiye Motorlu Araclar A. S. (Toyota Turkey Motor Vehicles Plc) while 25% of the company will be owned by Toyota Motor Europe and 10% by Mitsui & Co.

New Mazda3 launch brings bullish outlook for Galadari

Wednesday saw the unveiling of all-new 2010 Mazda3 model in Dubai by AutomobilesGaladari AutomobilesLoading..., the sole distributor of the Japanese brand in the UAE. With this launch, Mazda has taken lead in the UAE automotive industry.

A press statement read that the aim of the hottest sports car was to provide every motorist new wings of freedom. The sedan has dynamic styling and outstanding performance. Cruise control, multi information display and key-less entry are included among the various new features.

Qatar Holding to acquire 17% Porsche stake

Qatar Holding has decided to acquire 17% stake in Volkswagen AG, which is merging with Porsche, in a deal that will exceed $10 billion.

Mideast's First Robotic Car Park opened by Dubai

Wednesday, in the Middle East, the first robotic car parking garage opened at an office complex in Dubai.

Astonishingly, upto 765 vehicles can be accommodated by the automated garage at Ibn Batuta Gate in Jebel Ali, which makes it one of the world's biggest multi-storey automatic car parks.

The first ever garage of several large-scale robotic garages has been planned by Asteco Property Management and its partner Seven Tides in an attempt to fulfill the requirements for parking in the United Arab Emirates.