Phoenix Acquisition Fans Flames Of Electric Car Production

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The acquisition of US electric car producer Phoenix Motorcars by Dubai-based conglomerate Al Yousuf Group, has opened up the possibility of not just domestic vehicle production in the UAE, but production of electric cars. Al Yousuf has been a shareholder in Phoenix for two years and claims to have already invested AED100mn over the last year developing the Phoenix electric sport utility truck in the US.