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Tesla debuts in Saudi Arabia, riding the wave of rising EV demand
Riyadh’s center is now open, with Jeddah’s set to follow by year-end.
First Avenue ups Shariah loan with Alinma to SAR 320 mn
ALSO: Scientific & Medical renews SAR 284 mn Shariah loan
Hyundai launches first Middle Eastern plant in Saudi
The plant is projected to contribute some USD 5 bn to Saudi’s GDP by 2045
Ronn to set up Saudi hydrogen truck factories under three-year USD 4 bn plan
The facilities will produce 10k hydrogen trucks, 1k sports vehicles, and an exclusive hypercar
EV maker Rivian to invest USD 120 mn in US supplier park expansion
Construction is set to be completed in 2026
Sabic posts SAR 1.2 bn loss in 1Q
PLUS: Luberef, Dar Al Arkan, City Cement, Sasco, Nadec, and Dr. Sulaiman Al Habib Medical Services Group report 1Q earnings
Tesla arrives in the Kingdom as EV market begins to stir
Saudi is targeting 30% EV adoption by 2030 after just 2k sales last year
Ceer signs SAR 5.5 bn agreements to localize EV components
The company aims to source over 40% of its raw materials locally
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