Tesla to launch in Saudi Arabia on April 10

Tesla has announced that it will officially launch its business in Saudi Arabia next month. According to a message released on the company's website, a launch event in Riyadh is scheduled for April 10th.

Tesla stated: "Step into a world powered by solar, sustained by batteries, and driven by electric vehicles as you explore our global best-selling lineup. Experience the autonomous future with Cybercab and meet Optimus, our humanoid robot, showcasing our latest advancements in AI and robotics." However, Tesla did not specify when its products would be available for sale.

Meanwhile, Tesla's electric vehicle sales in Europe have declined. According to data from the European Automobile Manufacturers' Association (ACEA), Elon Musk's Tesla brand has seen a 42.6% drop in car sales in Europe so far this year. Tesla's China-made electric vehicle sales also fell 49.2% year-on-year in February to 30,688 units, the lowest level since August 2022, as the U.S. automaker faces intense competition from Chinese rivals.

Key competitor BYD reported that its automobile deliveries, including both pure electric and hybrid vehicles, increased by 29% year-on-year, reaching 4.27 million units. In contrast, Tesla's 2024 revenue was $97.7 billion, with 1.79 million battery-powered vehicles delivered. Furthermore, Musk's brand has also been hit by a wave of protests in the United States, due to the Tesla CEO becoming an advisor to U.S. President Donald Trump and initiating significant cuts to federal government spending.

Tesla's entry into the Saudi Arabian market comes after its vehicles began widespread sales in the United Arab Emirates in 2017. The company also has a dealership in Qatar. To further expand its global footprint, Tesla signed a lease agreement earlier this month to open its first showroom in Mumbai, aligning with its plans to sell imported vehicles in India. This launch aligns with the Saudi Kingdom's strategic objective of shifting its economy away from oil. The Saudi Kingdom has set an ambitious goal of converting 30% of all vehicles in Riyadh to electric vehicles by 2030, as part of its broader strategy to reduce emissions in the capital by 50%.

The Saudi Kingdom is also focused on building a domestic electric vehicle manufacturing industry, which is expected to significantly enhance its domestic value and attract talent, technology, and foreign direct investment. Major players such as CEER, Foxconn, and Lucid Motors are central to Saudi Arabia's electric vehicle manufacturing ambitions. Saudi Arabia's sovereign wealth fund is a major investor in Lucid Group, an electric vehicle startup hoping to challenge Tesla.