Elon Musk denies reports of potential Tesla Saudi Arabia factory (Update)

Key Points

  • 💔 Elon Musk denies reports of Tesla considering a factory in Saudi Arabia, calling it false.
  • 🚗 Tesla has ambitious production goals, aiming for 1.8 million vehicles in 2023 and 20 million by 2030.
  • 🏭 Tesla needs to decide quickly on the location for its next electric vehicle factory to meet its 2030 target.
  • 🏭 Currently, Tesla has factories in the United States, Shanghai, Berlin, and plans for one in Mexico.

Elon Musk has denied a recent report from The Wall Street Journal which suggested that Tesla and the kingdom of Saudi Arabia are in early discussions for a potential factory in the country. In a post on X, Musk noted that the report was “another utterly false article from the WSJ.” 

In its report, The Wall Street Journal noted that its information was from individuals reportedly familiar with the matter. The Journal’s sources also noted that the talks are still at an early stage, and thus, they could still fall apart. Considering Musk’s denial, it seems safe to assume that there would not be a Tesla factory in Saudi Arabia, at least in the near future.

Tesla has ambitious plans for the rest of the decade. The company is currently aiming to finish 2023 with an output of 1.8 million vehicles, which is already a notable improvement from the 1.3 million that were sold last year. Still, such a number is a far cry from the 20 million vehicles per year that Tesla is aiming to sell by 2023. 

Elon Musk has hinted in the past that Tesla would probably need about a dozen or so gigafactories across the globe to achieve its ambitious 2030 target. As such, the company must decide quickly where to build its next electric vehicle factory. This way, Tesla could start setting up the necessary pieces it needs to hit 20 million by the end of the decade. 

So far, Tesla has two electric vehicle factories in the United States — the Fremont Factory and Gigafactory Texas. The company also produces vehicles in Gigafactory Shanghai, its highest output factory today, and Giga Berlin, which features an upgraded paint shop that offers unique color options that are not offered anywhere else. Tesla has also confirmed Gigafactory Mexico, which will be focused on the company’s next-generation platform.

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