Tesla, Saudi Arabia discussing potential EV factory, says WSJ

Robert Besser
21 Sep 2023, 16:59 GMT+10

This week, the Wall Street Journal reported that U.S. EV maker Tesla and Saudi Arabia are in early discussions on a potential EV factory in the Middle Eastern country
On his account on social media platform X, Tesla CEO Elon Musk denied reports of the talks with Riyadh
Saudi Arabia is attempting to diversify its economy from relying on oil

NEW YORK: This week, the Wall Street Journal (WSJ) reported that U.S. electric vehicle (EV) maker Tesla and Saudi Arabia are in early discussions on a potential EV factory in the Middle Eastern country.

On his account on social media platform X, Tesla CEO Elon Musk denied reports of the talks with Riyadh. Saudi Arabia's sovereign fund, the Public Investment Fund, has yet to respond to requests for comment.

By offering potential rights to supplies of the metals and minerals the company requires for its EVs from countries such as the Democratic Republic of Congo, Riyadh has encouraged Musk to build a facility in the kingdom.

Saudi Arabia is attempting to diversify its economy from relying on oil.

In May, Musk said that Tesla, which currently has six production facilities and is building its seventh in Mexico, will decide on a new location by the end of this year.

By 2030, the company aims to sell 20 million EVs annually, 1.3 million more than in 2022.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to South America Times.

More Information

18 ℃

Fair / Windy in Buenos Aires/Aeroparque

International

Section

Michigan man sentenced to prison term for keeping dead wife in freezer

MOUNT PLEASANT, Michigan: This week, a judge sentenced a Michigan man who kept his dead wife's body in a freezer ...

US CDC says life expectancy for newborns in 2022 gained a year

ATLANTA, Georgia: After two consecutive years of declines mainly caused by the COVID-19 pandemic, babies born in the U.S. in ...

Three more Israeli troops die in Gaza conflict, death toll hits 400

The number of soldiers in the Israeli army killed in the current Israel-Hamas war has topped 400. Three hundred and ...

Detention extended by Russian court of WSJ's US reporter

MOSCOW, Russia: A Russian court has extended the detention of Evan Gershkovich, a U.S. reporter for the Wall Street Journal, ...

Casualties mount again in Gaza as bombardments gather pace

Israel intensified its deadly bombardment of the Gaza Strip Saturday as renewed fighting with Hamas entered a second day following ...

Nikki Haley's 2024 Republican presidential bid endorsed by Koch Group

ARLINGTON, Virginia: This week, the conservative U.S. political network Americans for Prosperity Action (AFP Action), led by billionaire Charles Koch, ...