Remember when Phoenix Motorcars was trying to get attention for their all-electric SUT with their friend Ed Begley, Jr.? Man that was a long time ago. We haven't heard an official statement from the company since they declared "We have not abandoned the alternative fuels transportation space" back in April. One reason for the silence: the company was in bankruptcy.
Al Yousuf, based in the United Arab Emirates, is a large company with holdings in the automotive, computer and boat industries. Late last week, the company announced it would expand its green car tech investments by buying 8 million shares of common stock of Altair Nanotechnologies Inc. Al Yousuf now owns about 21 percent of Altair, up from 14 percent before the purchase. In May, the Al Yousuf Group bought $475,000 of Zap's convertible debt, and Al Yousuf LLC's Eqbal Al Yousuf is chairman of the