Saudi Arabia is in early talks with US electrical automaker Tesla to arrange a producing facility within the kingdom, the Wall Road Journal reported on Monday. The report comes simply hours after Turkish President Tayyip Erdogan requested Tesla CEO Elon Musk to construct a automobile manufacturing unit in Turkey, in line with the nation’s communications directorate.
Musk can also be set to satisfy Israeli Prime Minister Benjamin Netanyahu in California on Monday.
Saudi Arabia has been wooing Tesla with the suitable to buy sure portions of metals and minerals the corporate wants for its EVs from nations, together with the Democratic Republic of Congo.
The dominion has been attempting to shift its economic system away from oil, whereas its sovereign wealth fund is almost all investor in Lucid Group, one of many EV startups seeking to problem Tesla. One of many proposals the dominion is contemplating entails extending financing to commodities dealer Trafigura for a flailing Congo cobalt and copper challenge, which may assist present a Tesla manufacturing unit
First Revealed: Sep 19 2023 | 12:31 AM IST