Tesla announced on Wednesday that it will start selling cars in Saudi Arabia next month, as the electric-vehicle maker looks to establish a strong presence in the Gulf region’s largest market. The announcement also signaled that Tesla CEO Elon Musk and the kingdom's influential sovereign wealth fund have moved past a dispute that started amid the automotive firm's attempted privatization in 2018.

Tesla said on its website that it would hold a launch event in Riyadh on April 10 to display its electric vehicles and other products, including solar energy solutions and battery technology. It also plans to hold demonstrations of its self-driving robotaxi, Cybercab, and introduce Optimus, its humanoid robot. 

The tension between Musk and the kingdom dates back to August 2018, when he claimed on Twitter that he had “funding secured” to take Tesla private following discussions with Saudi Arabia’s Public Investment Fund. The statement sparked controversy, especially since the PIF had recently acquired a 5% stake in Tesla through public markets.

After the deal failed to materialize, investors sued Musk, accusing him of misleading them about the privatization. The lawsuit, which Musk ultimately won in February 2023, also revealed tense text exchanges between him and PIF governor Yasir al-Rumayyan during court proceedings.