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Asharq Al-Awsat
12 hours ago
- Asharq Al-Awsat
Egypt Signs $1 Bln Deal with China's Sailun Group for Tire Factory, Cabinet Says
Egypt has signed a deal with China's Sailun Group to build an automotive tire factory in the Suez Canal Economic Zone, with total investments of $1 billion, a cabinet statement said on Wednesday. The facility will take three years to complete and will eventually produce 10 million tires annually, the statement said. The first phase is due to be completed in 2026, it said. Egypt's Suez Canal Economic Zone (SCEZ) is a collection of six ports and four industrial areas alongside, or near the strategic waterway. The government has granted the area special legal and tax advantages to benefit from international shipping passing by. The zone's chairman said last year that it was spending heavily on infrastructure as it worked to attract investors. China has been looking to step up its economic activity in Egypt, including in projects involving ports, green hydrogen, industry and space.
ArabGT
a day ago
- ArabGT
BMW Is Cooking Up a G-Class Rival — And It's Coming in 2029
G claSome cars aren't just vehicles — they're legends. Over the past century, a few models have carved their names into automotive history forever. Think Ford Model T, Volkswagen Beetle… and in the world of luxury off-roaders, the unmistakable Mercedes-Benz G-Class. Having an icon like that in your lineup is a massive bragging right. So it's not hard to understand why BMW has decided it's time to build a rival worthy of the crown. According to fresh leaks, BMW is working on something big — really big. It's an all-new SUV, codenamed G74, designed specifically to go toe-to-toe with the G-Class. And if all goes according to plan, we'll see it in 2029. The Plan This won't just be an X5 with a tougher look. The G74 is expected to ride on a seriously upgraded version of the X5's platform, re-engineered for real off-road muscle. It's BMW saying, 'We can do rugged too — and make it luxurious.' Production will happen in Spartanburg, South Carolina — the same plant that builds the X5 and X7 — so BMW's already got the know-how for big, high-end SUVs. Fun fact: it's scheduled to launch just a year after the XM bows out in 2028. Luxury vs. Legend The G-Class isn't cheap — the G550 starts around $149,400 (SAR 560,250) — and BMW's XM isn't far off at $160,775 (SAR 602,906). So expect this battle to be about more than just power. It'll be a clash of style, comfort, and pure road presence. BMW's goal? Build something that can crawl up a rocky trail at dawn and roll into a five-star hotel driveway at night without missing a beat. BMW's Leap into the Wild Right now, BMW's 'xOffroad' package on the X5 is a nice extra, but it's not G-Class territory. That's why the G74 will be built from scratch to tackle rough terrain, not just muddy parking lots. Why Now? The G-Class just hit a major milestone — over 600,000 sold since it first rolled out. Clearly, people love a boxy, powerful, luxury machine that can go anywhere. BMW sees a wide-open lane and is ready to step on the gas. What We're Expecting While BMW's keeping the juicy details quiet, here's what's being whispered: A bold, square design with a 'move over' attitude. A cabin that blends luxury with BMW's latest tech — including advanced driver assistance. All-wheel-drive magic and the choice of hybrid or electric power under the hood. If BMW nails it, the G74 could be the start of a new rivalry — one that might finally give the G-Class some real competition.
Arab News
a day ago
- Arab News
McLaren to auction 2026 F1 car before it has been raced
LONDON: Champions McLaren claimed a first on Thursday by announcing the auction of one of their 2026 Formula One cars before it has even been F1 car, which will be driven by Oscar Piastri or Lando Norris, is one of a trio of future chassis offered by McLaren in the December 5 sale organized by RM Sotheby's ahead of this year's season-ending Abu Dhabi Grand other two are a 2026 Arrow McLaren Indycar, to be raced at the Indianapolis 500 next May by Mexican Pato O'Ward, and McLaren's inaugural 2027 World Endurance Hypercar that will compete in the 24 Hours of Le Chief Executive Zak Brown said the auction would be the first time a future Formula One car had been sold before it had been unveiled to the as-yet unnamed 2026 car, likely to be the MCL40 after this year's MCL39, will be the team's first for a new era in Formula One with a big change in technical and engine successful bidder will have to wait until 2028 to take delivery, with a 2025 show car offered on lease until then to the buyer who will also have behind the scenes access to the team and other cars will be delivered after the respective series have are the only team to have won the 'Triple Crown' of the Monaco Grand Prix, Indianapolis 500 and Le Mans and will try to add to their success when they return to endurance racing in 2027.
