Wed. Oct 4th, 2023
    Saudi Arabia in Talks with Tesla for a Production Facility: Report

    The Kingdom of Saudi Arabia is reportedly engaged in discussions with Tesla to potentially establish a production facility within the country. According to sources cited by the Wall Street Journal, this initiative is part of Saudi efforts to secure essential metals for electric vehicles and reduce its economic reliance on oil.

    If this deal materializes, it would mark a significant development in the relationship between Tesla CEO Elon Musk and the Saudi government. Currently, the Kingdom has an existing partnership with Lucid Group, a direct competitor of Tesla in the electric vehicle market.

    Saudi Arabia views the establishment of a production facility as a crucial step towards diversifying its economy and accelerating its transformation into a hub for sustainable transportation. The production of electric vehicles within the country would not only contribute to the reduction of carbon emissions but also create job opportunities and stimulate economic growth.

    While talks are underway, it is important to note that the deal is still in its preliminary stages and may not come to fruition. However, the potential collaboration between Saudi Arabia and Tesla highlights the Kingdom’s commitment to embracing clean energy and supporting the growth of the electric vehicle industry.

    – Wall Street Journal