Tesla (TSLA.O) announced the launch of sales of the Cybertruck in Qatar. This move follows the company’s exit from Saudi Arabia earlier this year and is the latest step in its Middle East expansion strategy.
Tesla entered the Saudi market in April by introducing the Cybertruck and the refreshed Model Y at an event in Riyadh.
The company announced it would support its sales in the region with online ordering, pop-up showrooms, Supercharger stations, and service centers.Qatar thus joined Tesla’s first wave of Cybertruck sales in the Middle East. Having previously entered the United Arab Emirates in 2017, Tesla is now strengthening its presence in the region with the UAE, Saudi Arabia, and Qatar triangle.
However, the company faces tough competition.
Along with Chinese companies BYD and Zeekr, Lucid Motors, backed by Saudi Arabia’s state investment fund, is among Tesla’s strongest competitors in the region.Tesla delivered record deliveries in the third quarter before tax incentives ended in the US. However, analysts expect a sharp decline in the fourth quarter.
