Are companies like Tesla hurting Saudi Arabia, and if so, how will Saudi Arabia react to potentially losing a major part of their economy?
Actually Saudi Arabia has invested $1 billion on Lucid, a competitive electric car maker as part of Saudi Arabia’s vision 2030 which aims to diversify the country’s economy away from oil.
It is also worth to mention that Saudi Arabia is heavily invested in renewable energy since the country gets so much sunlight and wind throughout the year, which will help the country meet local demand for energy and sell the rest of the stored energy to meet global demand.
Therefore, Tesla won’t hurt the Saudi economy in the long-term.
Saudi's PIF invests more than $1 billion in electric carmaker Lucid Motors
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