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.

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 meeting Saudi Arabia's sovereign wealth fund, the Public Investment Fund.

That tweet eventually led to a lawsuit from investors when a bid failed to materialize, during which tense text messages between Musk and PIF head Yasir al-Rumayyan were made public.

Tensions have eased since the autumn when Musk took a high-profile role in U.S. President Donald Trump's election campaign and then new administration.

Trump said this month he would likely make his first trip abroad to Saudi Arabia, after asking the kingdom in January to spend upwards of $1 trillion in the U.S. economy, over four years, including military purchases.

Tesla's launch event in Riyadh, scheduled for April 10, will display its EVs and products powered by solar energy, the post said.



AFP