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Monday, September 25, 2023

“Fake news”.. Musk denies building a Tesla factory in Saudi Arabia

The American billionaire said, in a post on the website:X“, “TwitterPreviously: “Another completely false article from the Wall Street Journal,” he attached a photo of the newspaper’s report to the tweet.

On Monday, the Wall Street Journal quoted informed sources as saying: Saudi Arabia Talks are underway in the early stages with the American electric car manufacturer Tesla to establish a factory in the Kingdom.

The newspaper stated in its report that Saudi Arabia Trying to attract a company Tesla By granting it the right to purchase certain quantities of the minerals and metals it needs from countries including the Democratic Republic of the Congo.

The Wall Street Journal report stated that one of the proposals being considered by the Kingdom includes providing financing to the commodity trading giant Trafigura to implement a faltering cobalt and copper project in Congo that would help supply the potential Tesla factory with supplies.

A Trafigura spokesman said that the company is considering its options for the Motoshi project in Congo, amid rising costs and continuing low prices Cobaltaccording to Reuters.

Musk said in May that Tesla may choose a location for a new factory by the end of 2023. The company currently has six factories and is building a seventh in Mexico With the aim of expanding its global presence. The company aims to sell 20 million cars annually by 2030, up from about 1.3 million in 2022.

The Kingdom is trying to diversify its economy so that it does not depend on… Oil Alone, the Saudi sovereign wealth fund is the largest investor in the group Lucidone of the electric car startups looking to challenge Tesla’s dominance in the sector.

This report comes hours after the Turkish Presidency’s Communications Department announced that President Recep Tayyip Erdogan asked Tesla CEO Elon Musk to build a factory for the company in Türkiye.

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