Saudi Arabia in talks with Tesla for EV factory

Saudi Arabia in talks with Tesla for EV factory

Saudi Arabia is reportedly in preliminary discussions with electric automaker Tesla to establish a manufacturing facility in the kingdom. Sources familiar with the matter revealed that Saudi Arabia has been enticing Tesla by providing the opportunity to purchase certain quantities of metals and minerals required for their electric vehicles from countries such as the Democratic Republic of Congo. The kingdom is considering extending financing to commodities-trading company Trafigura for a struggling Congo cobalt and copper project, which could potentially supply a Tesla vehicle factory. No official comments have been made by Tesla or Saudi Arabia’s Ministry of Media regarding the talks.

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TIS Staff

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