Tesla's Saudi Arabian Manufacturing Plant Plans - Fact or Fiction?

As governments worldwide advocate for the widespread adoption of electric vehicles (EVs) and urge top car manufacturers to transition away from internal combustion engines (ICE), rumors have started swirling about Tesla, the American electric car giant, considering the establishment of a manufacturing plant in Saudi Arabia. Some publications even ran articles on the subject, fueling speculation.
To set the record straight and clarify the situation, Tesla's CEO, Elon Musk, categorically debunked the rumors, labeling them as entirely false. Musk, who is also the chairman of SpaceX, took to his official Twitter account to share a screenshot of an article related to the rumors and dismiss them as baseless.
Initially, Saudi officials did confirm that the country had initiated discussions with Tesla, with the company reportedly considering the proposal. However, there is a possibility that Tesla might decline the offer extended by Saudi Arabia, according to these officials.
Furthermore, reports have unveiled Saudi Arabia's persistent efforts to engage with Tesla, including requests for the purchase of specific quantities of metals and minerals crucial for EV production, sourced from nations such as the Republic of the Congo.

According to The Wall Street Journal, Saudi authorities even explored the possibility of acquiring assets in the Republic of the Congo, a nation that supplies approximately 70 percent of the world's cobalt—an essential component in EV production.
Tesla's global expansion plans have been in the spotlight, with the company already demonstrating a strong interest in establishing a manufacturing presence in India. While specific details about Tesla's future operations in India remain undisclosed, some reports suggest that the prominent U.S.-based EV manufacturer may unveil its business plans for the Indian market either by the end of this year or at the outset of 2024.
Currently, Tesla operates manufacturing facilities in Germany, the United States, and China, with plans to commence operations in Mexico as well. Amid these global developments, the Saudi Arabian manufacturing plant remains a topic of debate, with contrasting reports about its potential existence. As the world continues to witness the rapid evolution of the electric vehicle industry, the future holds intriguing possibilities for Tesla's expansion endeavors.

--------This article is partly excerpted from Reuters.