US EditionTesla is bringing its electric cars to oil-rich Saudi Arabia amid falling global sales
- Tesla announced on Wednesday that it will begin selling its electric vehicles in Saudi Arabia, the Gulf region's largest economy, with a launch event scheduled for April 10 to showcase its EVs and products powered by solar energy.
- This move comes as Tesla's global sales are sliding, including a 42.6% drop in European sales so far this year, and as the company recorded its first annual sales decline of 1% last year.
- Tesla's entry into the Saudi market, where EVs account for just over 1% of car sales according to a September 2024 PwC report, suggests a potential healing of a rift dating back to Elon Musk's 2018 attempt to take Tesla private following a meeting with Saudi Arabia's Public Investment Fund .
- Tense text messages between Musk and Yasir al-Rumayyan became public during a lawsuit stemming from Musk's 2018 tweet that he had "funding secured" to take Tesla private, with Musk writing "You are throwing me under the bus" in one message.
- Despite rising demand for EVs, Tesla faces challenges including competition from Chinese EV maker BYD, which reported higher annual sales for 2024 and unveiled an ultra-fast charging system that outperforms Tesla's Superchargers, alongside domestic pushback with "Tesla Takedown" demonstrations protesting Musk's role leading the Department of Government Efficiency and its sweeping cuts, as well as vandalism sparking an FBI task force.
40 Articles
40 Articles
Tesla to launch in Saudi Arabia as ties with Musk thaw
Tesla will start sales in Saudi Arabia next month, the electric carmaker said on its website, signalling CEO Elon Musk and the kingdom have healed a rift that dates back to the billionaire's short-lived bid in 2018 to take the company private. Tesla trades in other Middle Eastern countries, but not in Saudi Arabia, the Gulf region's largest market. The dispute started when Musk tweeted in 2018 he had "funding secured" to take Tesla private after…
Tesla gears up for Saudi launch
Tesla is finally making its debut in Saudi Arabia, with the electric vehicle giant set to launch sales in the kingdom on April 10. The move signals a major turnaround in Elon Musk’s relationship with Saudi leadership, following a years-long rift sparked by Musk’s failed bid in 2018 to take Tesla private. The company confirmed the news via its website, revealing plans for a high-profile launch… Source
Elon Musk has made peace with the Saudis and is launching Tesla in the largest car market in the Gulf
Tesla will officially launch sales in Saudi Arabia next month, according to an announcement published on the company's website, signaling that relations between CEO Elon Musk and the kingdom have improved, after a conflict erupted in 2018 over a failed attempt to delist the automaker.
Business Insider
Saudi Arabia is opening its doors to Elon Musk at a critical time for Tesla
Tesla announced its launch in Saudi Arabia.Newsday LLC/Getty ImagesTesla says it'll be entering the Saudi market in April.The company said its launch event in Riyadh will "showcase what's next in AI and robotics."This comes at a crucial time — Tesla is reeling from declining sales and a falling stock price.Elon Musk's Tesla has been admitted into the gulf's largest economy, Saudi Arabia, at a crucial time for the electric vehicle producer.On Wed…
Tesla to launch in Saudi Arabia as Musk and the kingdom mend relations
Tesla will start sales in Saudi Arabia next month, the electric carmaker said on its website, signaling CEO Elon Musk and the kingdom have healed a rift that dates back to the billionaire's short-lived bid in 2018 to take the company private.
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