Qatar Fawran Instant Payment System Hits QR10 Billion Milestone

Fawran instant payment system has processed over 5 million transactions, Since launching in March 2024.Qatar’s digital economy keeps growing fast. The total transaction value surpassed...
HomeInvestmentSaudi Arabia Accelerates EV Growth with Tesla Cybertruck Launch

Saudi Arabia Accelerates EV Growth with Tesla Cybertruck Launch

Saudi Arabia took a major step in its electric vehicle (EV) journey by welcoming Tesla into the market. The official launch featured the bold debut of the Cybertruck in Saudi Arabia, along with a new version of the Model Y. Both models attracted strong interest from locals at a sleek event held in an open-air plaza.

Attendees admired the Cybertruck as it appeared on large screens, cruising across the desert and kicking up sand clouds. This Cybertruck debut in Saudi Arabia showed Tesla’s intent to grow in a region dominated by oil. At the same time, it demonstrated the Kingdom’s commitment to its green vision.

Tesla needs to expand after a global sales drop of 13 percent in the first quarter. This decline was its weakest in almost three years. Saudi Arabia, in contrast, wants to grow its EV market. Officials aim to raise EV use to 30 percent by 2030, from just 1 percent last year.

Although Elon Musk skipped the event, his team shared ambitious plans. Tesla will soon offer online ordering, mall pop-up stores, and Supercharger networks in key cities. The Cybertruck debut in Saudi Arabia is part of Tesla’s broader Middle East strategy.

Riyadh’s relationship with Tesla has improved over time. In 2018, Musk and the Saudi wealth fund clashed over a failed Tesla buyout. However, recent images showed Musk and fund chief Yasir Al-Rumayyan attending events together, signaling better ties.

Despite big dreams, Saudi Arabia lacks EV infrastructure. The 900-kilometer route between Riyadh and Makkah has no charging stations. Saudi had only 101 EV stations in 2024, far fewer than the UAE’s 261. Tesla aims to fix this with new chargers in three major cities.

Other EV brands like BYD, Zeekr, and Lucid already operate in the Kingdom. Lucid has the backing of the Saudi Public Investment Fund. Therefore, Tesla faces strong competition in the region.

Still, the Cybertruck debut in Saudi Arabia symbolizes a turning point. It merges local ambitions with global innovation. As Tesla invests in the region, Saudi Arabia moves closer to its sustainability goals.