Saudi Arabia Tesla investment

Saudi Arabia is currently in talks to invest in Tesla. Most of Saudi Arabia’s investment is in oil, making this unusual, as Saudi Arabia is in charge of vast amounts of fossil fuels, while Tesla plans to revive the automobile industry with alternative, sustainable energy.

However, Saudi Arabia has a reason to invest in Tesla. Saudi Arabia’s goal is to diversify their economy and find new revenue streams besides oil. This would allow the country to prosper with a diverse economy.

Renewable energy is becoming increasingly popular as there are more innovations in technology. Tesla’s electric cars look very appealing to Saudi Arabia as a result. If Saudi Arabia’s natural resources ever run dry, it would be preferable to have a secure backup solution like renewable energy. In addition, the deal may help modernize the Saudi monarchy.

“I hope this deal leads to more investment in sustainable energy,” said Paige Boxberger, 12.

Elon Musk, the CEO of Tesla, wants to complete the deal without handing over any control. This result will most likely be the case, as the Saudis hope to invest in the company. Additionally, Musk supports the deal due to his dream of making Tesla the most advanced car company in the world. One way of doing this, is through possible through large investments from Saudi Arabia.