Saudi Arabia discusses setting up EV manufacturing facility with Tesla: WSJ
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Saudi Arabia and Tesla explore the possibility of a new production plant: WSJ Sources.
Kingdom's partnership with Lucid Group highlights the growing interest in the EV sector.
Saudi Arabia's move with Tesla aligns with diversification away from oil.
Saudi Arabia is reportedly discussing with Tesla the possibility of setting up a production plant in the country, according to the Wall Street Journal, based on anonymous insiders.
This endeavor aligns with Saudi Arabia's aim to procure vital metals for electric vehicles.
This potential development signifies an evolving relationship between Tesla's CEO, Elon Musk, and the Saudi government.
It's noteworthy that Saudi Arabia already collaborates with Lucid Group, a key rival of Tesla in the EV sector.
While this proposal resonates with Saudi Arabia's ambition to diversify its economy away from oil, the discussions are in their early phases, and the deal might fail to come to fruition, as mentioned by WSJ.
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