by Tesla is preparing to launch in Saudi Arabia, a strong supporter of Lucid Motors. The event will take place on April 10, showcasing a variety of products. The company is no stranger to the Middle East as it has representations in Jordan and Qatar. Tesla faces numerous challenges as it deals with an influx of Chinese competitors, as well as customers disenchanted with Elon Musk. This combination has led to setbacks in the United States.
Amidst this, Tesla is exploring new markets to improve its share. The latest is Saudi Arabia, as the company has sent invitations to attend the opening of its office in Riyadh. The event will take place on April 10, inviting guests to acquaint themselves with the company’s product lineup and “experience the world powered by solar energy, stored in batteries, and driven by electric vehicles.” Attendees will also be able to see robots and Optimus, as well as company employees who will answer questions about ownership, home charging, and more. While Tesla is a newcomer to Saudi Arabia, the company is already present in the country. Notably, there are stores and charging stations in Israel, Jordan, Qatar, and the United Arab Emirates.
It’s worth noting that Tesla’s entry into the market is intriguing since the Saudi Public Investment Fund has invested billions in Lucid. Part of this funding helped the company, which began assembling the Air vehicle through incomplete builds, with plans to transform into a full-fledged plant “after mid-decade.”
This isn’t the only thing making the situation interesting – Musk initially hoped for funds from Saudi Arabia to take Tesla private. This led to his infamous “funding secured” tweet, which turned out to be hollow. It’s noted that electric vehicles account for only 1% of total sales in the oil-rich country. This indicates that Tesla’s sales issues are far from resolved.
