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Tesla launches in Saudi Arabia amid Chinese competition and tumbling sales

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Electric vehicles accounted for just 1% of all car sales in the kingdom in 2024, according to PwC.
Tesla has officially launched sales in Saudi Arabia, marking its entry into the Middle Eastern market amid increasing competition from Chinese electric vehicle manufacturers. The move comes as Tesla aims to expand its global footprint and tap into the growing demand for electric vehicles in the region. Saudi Arabia, a major oil producer, is actively diversifying its economy and promoting sustainable energy solutions, aligning with Tesla's mission. However, Tesla faces stiff competition from Chinese EV makers like BYD and NIO, who have been aggressively expanding their presence in the Middle East. Tesla's entry into Saudi Arabia is seen as a strategic move to counter this competition and establish a strong foothold in the region's burgeoning EV market.

Read the Full CNBC Article at:
[ https://www.cnbc.com/2025/04/10/tesla-launches-sales-in-saudi-arabia-amid-chinese-competition.html ]