Tesla Opens First Showroom In Oil-rich Saudi [Barron's]
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The opening in the capital Riyadh comes with Tesla sales dropping and showrooms in the United States being attacked over work by the controversial Musk, the world's richest person, for the US government. Saudi Arabia is a key regional ally of Washington, and US President Donald Trump forged close ties during his first term with de facto ruler Crown Prince Mohammed bin Salman, who has promised to inject $600 billion into US trade and investments. However, demand for electric vehicles is relatively low in Saudi Arabia, the world's largest oil exporter which enjoys bargain-basement fuel prices, with a litre costing just 2.33 riyals ($0.62). Cheap fuel and prolonged periods of extreme heat in the vast desert country means big oil-consuming cars reign supreme. Saudi economist Mohammed Al-Qahtani welcomed Tesla's move, but urged even more. "We do not want a showroom; we want a factory," he said. "We want to be part of the production process, not just consumption." A lack of cha
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