According to Tesla’s co-founder and executive, Tesla is taking its first inroad in middle east, which is one of the biggest markets for luxury and sport cars. The company expected to open their first this July in Dubai mall. They're also planning on opening another store in Abu Dhabi in 2018.
Tesla’s sales has tremendous rising in the in the last quarter of 2016, which make the company one of the fastest growing car producers. Producing 80,000 car a year was Tesla's goal in 2016. On the other hand, the chairman and the biggest shareholder of the company stated that Tesla is going to produce 500,000 a year by the end of 2018, and double that in 2020.
Dubai seems a great market for Tesla’s since it’s relatively to fancy cars. The price dropping of oil in 2014 led many government to raise the gasoline price. Also, Dubai and many government started to encourage people to purchase a friendly cars to the environment such as cars that produced by Tesla.
Since cars is the most popular transportation tool, Tesla has to cut down a little bit of their price to increase their demand. The company announced couple of cheaper prices in 2017 and will announce more in mid 2018. Therefore, the chairman of Tesla, Mr. Musk is planning on grab the investment attention and take the company’s investment to the next level. https://www.wsj.com/articles/tesla-makes-first-foray-into-middle-east-1486999094
By: Mohammed Almomen
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