Abu Dhabi zoomed into the automotive sector in 2009, when
state-backed Aabar Investments paid $2.7bn for a 9.1 percent stake in Daimler,
the manufacturer of luxury German brand Mercedes-Benz.
Aabar got more adventurous later that year with a 3.63
percent stake in electric carmaker Tesla Motors. The Silicon Valley-based firm
launched an IPO in July last year, helping to boost Aabar’s coffers.
Despite playing host to the world’s first Ferrari World, Abu
Dhabi investment fund Mubadala sold off its five percent stake in the luxury
carmaker to Italy’s Fiat.
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