Philippines Current Account Deficit Seen at $19.1 Billion in 2026 
UK Finance Minister Healey Calls for Fiscal Discipline Amid Global Risks 
US Dollar Rises for Fourth Week as Fed Rate Hike Bets Grow 
Deutsche Bank CEO Urges Faster German Economic Reforms 
Oil Prices Fall as Russia Signals Higher Diesel Exports 
Wall Street Ends Mixed as Investors Await CPI and Bank Earnings 
Elon Musk Donates $366 Million to 2026 US Midterms 
Meta Launches Muse Wonder AI Models, Shares Rise 3.7% 
Bank of America Predicts Yen Rebound as USD/JPY Faces Risks 
Orsted to Take Full Ownership of UK Offshore Wind Farm for £15 Million 
Albertsons Seeks $9.3 Billion From Kroger Over Failed Merger 
European Auto Stocks Rise as EU-China Trade Deal Targets Hybrid Imports 
Trump Calls for Zelenskyy Replacement Amid Russian Diesel Deal 
Syndax Stock Drops 15% After Axatilimab Trial Failure 
Most Americans Oppose Election Betting on Prediction Markets, Poll Finds 
Moonshot AI Executives Seek Settlement Ahead of Hong Kong IPO 
IMF, World Bank Meetings Face Global Economic Risks Amid Iran War 
Add as a preferred source on Google
Amid global overtures, including from Turkey's President and Israel's Prime Minister, Elon Musk disputes the Wall Street Journal's report about potential Tesla EV plant discussions with Saudi Arabia. This comes as the kingdom seeks to diversify its economy beyond oil, targeting electric vehicle industry collaborations.
The publication was the first to report the supposed ongoing talks for setting up Tesla's new EV production plant in Saudi Arabia. It cited people familiar with the matter as its sources for the news.
According to Reuters, the Tesla report comes just hours after Turkey's President Tayyip Erdogan asked Elon Musk to build an EV facility in his country. It was mentioned that the Tesla CEO was also set to converge with Israel's Prime Minister Benjamin Netanyahu in California this week.
In any case, it was noted that Saudi Arabia has been trying to woo the American EV maker by offering a right to buy specific quantities of metals and minerals that the company requires for its vehicle production. Likewise, one of the kingdom's proposals to Tesla was said to be financing for Transfigura trading firm to help supply raw materials to Tesla's factory. The kingdom is doing this as part of its plan to shift to other lucrative businesses as it moves away from oil.
Meanwhile, not long after the WSJ article was published, Elon Musk indicated that the report was untrue. The Tesla owner reacted to the Wall Street Journal's report, which claimed, "Saudi Arabia is in talks with Tesla about setting up a manufacturing facility there, people familiar with the discussions said, as part of an ambitious push by the kingdom to secure metals needed for electric vehicles and help diversify its economy away from oil."
Musk posted the screenshot of the article on his own X account and wrote "Yet another utterly false article from WSJ" as its caption.
Yet another utterly false article from WSJ pic.twitter.com/sisFcxYKxI
— Elon Musk (@elonmusk) September 18, 2023
Photo by: Paul Steuber/Unsplash
