- Title: Tesla says it will launch in Saudi Arabia next month
- Date: 26th March 2025
- Summary: FREMONT, CALIFORNIA, UNITED STATES (FILE - MAY 12, 2020) (REUTERS) VARIOUS OF TESLA FACTORY EXTERIOR GRUENHEIDE, GERMANY (FILE - MARCH 22, 2022) (REUTERS) VARIOUS OF TESLA CEO, ELON MUSK, SPEAKING AT EVENT, DANCING HOUSTON, TEXAS, UNITED STATES (FILE - JULY 15, 2022) (REUTERS) DRIVER FINISHING CHARGING TESLA RED TESLA HOOD TESLA CHARGING STATION CHARGER PLUGGED INTO CAR RU
- Embargoed:
- Keywords: Elon Musk Saudi Arabia TESLA
- Location: VARIOUS
- City: VARIOUS
- Country: Saudi Arabia
- Topics: Company News Markets,Economic Events,Middle East
- Reuters ID: LVA001173926032025RP1
- Aspect Ratio: 16:9
- Story Text: Tesla will launch in Saudi Arabia early next month, according to a post on Wednesday (March 26) announcing the opening on the company's website.
Elon Musk's EV brand trades in other countries in the Middle East, but not in Saudi Arabia, the Gulf region's largest market.
Tesla TSLA.O has seen EV sales slump in Europe and the brand has been targeted by a wave of protests in the United States since Musk, the company's CEO, became an adviser to U.S. President Donald Trump and began sweeping cuts to the federal government.
The launch event in Riyadh, scheduled for April 10, will display Tesla's electric vehicles and products powered by solar energy, the post said.
Tesla's sales and market share in Europe have fallen this year even as electric vehicle (EV) registrations on the continent have grown.
Musk's brand has sold 42.6% fewer cars in Europe so far this year, data from the European Automobile Manufacturers Association (ACEA) showed on Tuesday, as Musk has stirred controversy globally.
Saudi Arabia has been trying to shift its economy away from oil, while its sovereign wealth fund is the majority investor in Lucid Group (LCID.O) one of the EV startups looking to challenge Tesla.
(Production: Amy McConaghy) - Copyright Holder: FILE REUTERS (CAN SELL)
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