Tesla, promoted by Elon Musk, announced the launch of its electric vehicles (EV) in Saudi Arabia, with a launch event planned in April in Riad.
“The Opening of Tesla in Kingdom or Saudi Arabia” planned for April 10, the company said on its website.
“Explore our best -selling global alignment and enter a world driven by solar energy, sustained by batteries and driven by electric vehicles,” added the announcement on the company’s site, inviting customers to the launch event on the Bujairi terrace.
Saudi Arabia is a new market for Tesla
While Tesla has bone sales vehicles in the Middle East for years, Saudi Arabia is a new market for the American car manufacturer.
Saudi Arabia has an estimated market for passenger vehicles annually or around 700,000 new vehicles, with SUVs that constitute the majority.
Toyota has about 30 percent of the market, closely followed by Hyundai/Kia with 25 percent.
Some of the Chinese brands have also entered the market, according to reports, quickly capturing approximately 10-15 percent market share.
However, the electric vehicle market in Saudi Arabia is considered “complicated”, considering that the kingdom is well known for its oil production.
The EV market is small, with only a few thousand vehicles delivered in 2024, but it is expected to change with the government that now offers fiscal exemptions, subsidies and the development of electric vehicle load infrastructure.
Tesla’s movement to enter the Saudi market comes in this backdrop.
