Overview

• Tesla will host a high-profile launch event in Riyadh on April 10, showcasing its EVs, autonomous driving technology, and humanoid robot, Optimus.
• The move marks Tesla's first entry into Saudi Arabia, where electric vehicles currently account for just 1% of car sales.
• Saudi Arabia has incentivized EV adoption with tax exemptions, subsidies, and charging infrastructure, aligning with its economic diversification goals.
• Tesla's entry follows improved relations between Elon Musk and Saudi Arabia after tensions from the 2018 'funding secured' controversy.
• The launch comes as Tesla faces declining sales in Europe and the U.S., as well as rising competition from Chinese EV makers like BYD.