Saudi Arabia Holds 5% of Electric Cars Manufacturer Tesla

RIYADH, Oct. 10 (SEE)- Saudi Crown Prince Mohammed Bin Salman told Bloomberg that the sovereign wealth fund acquired 5 percent shares in leading electric car manufacturer Tesla.

“The fund acquired 5 percent of the total shares of Tesla after the company appeared to be a good opportunity for the fund,” he said.

He added that Tesla’s showrooms will open within the coming year or two in Saudi Arabia.

He noted that the kingdom allowed the full ownership of foreign investments, allowing Tesla to open its showrooms.

Tesla is an American automotive and energy company based in California.

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