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Tesla launched its first Riyadh center last Thursday, with another one coming to Jeddah by year-end, according to a press release. The new center — located on Takhassousi Road — comes months after the US-based EV giant first launched its Saudi operations in April in a bid to meet the growing appetite for EVs in the Kingdom.
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Deliveries of Tesla’s Model 3 and new Model Y are set to begin soon, with the Cybertruck launching in the Middle East by year-end — its first market outside North America. Tesla will also introduce a mobile service, allowing owners to schedule maintenance or repairs at a location of their choice.
Tesla already has a Supercharger network of 28 stalls in place, with eight stalls launched in April in each of Cenomi Al Nakheel Mall in Riyadh, Cenomi Mall of Arabia in Jeddah, and Cenomi Al Nakheel Mall in Dammam. Each Supercharger stall can add 275k km of range in a 15-minute charge.
IN CONTEXT- Saudi Arabia aims for 30% of all vehicles in its capital to be electric by 2030, prompting the launch of the Electric Vehicle Infrastructure Company, which is charged with installing 5k chargers nationwide by 2030. Despite the low penetration of EVs in the local market, over 40% of Saudis are considering purchasing an EV over the next three years, which could signal that the market has been holding out for a heavy hitter like Tesla.
FYI- It’s been a long time coming: Tesla reportedly delayed its entrance in the Saudi market due to an unconfirmed spat between CEO Elon Musk and the Public Investment Fund (PIF) over a frustrated 2018 PIF buyout. Musk presented shareholders in 2018 with the option to sell at USD 420 or hold shares and go private, seemingly without an offer in hand.
BUT- Is the market already crowded? The US EV manufacturer is facing PIF-backed Lucid’s local EVs and Chinese giants BYD and Zeekr, both already on the ground in Riyadh. Tesla is expected to have a hard start, where its sales will stand somewhere between 10k to 15k units in the next two years.
