Fresh off the opening of Tesla’s China plant a few years ago, and most recently their plant in Germany, Tesla is now considering opening a plant in Saudi Arabia according to the Wall Street Journal’s reporting. It turns out there’s no shortage of countries eager to court Elon Musk’s favor and try to get a Tesla plant built in their countries; just ask Israel and Turkey.
The move by Saudi Arabia does make a lot of sense. Saudi Arabia’s sovereign fund, the Public Investment Fund, has boat loads of money that they are eager to invest in companies with sky high potential like Tesla. Plus it could give Tesla access to eager customers in the Middle East. It’s reported the Saudi’s are dangling lucrative metals contracts for the “purchase certain quantities of metals and minerals the company needs for its electric vehicles from countries, including the Democratic Republic of Congo.” As Saudi Arabia works to move their economy away from oil and gas, they are building up their domestic industries and infrastructure, and an electric future with Tesla may be in the cards.Tesla