Saudi Arabia Reportedly Wooing Tesla for New Factory, Musk Denies It

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The Arab nation has been strenuously courting Tesla to get the world's most valuable automaker to break ground on a factory there, sources told The Wall Street Journal. The problem, according to the WSJ piece -- which Musk dismissed in a tweet as "utterly false" -- is Saudi Arabia's history with Musk. Still, with Musk even the most unequivocal of statements can be taken with a grain of salt... or maybe cobalt.

Tesla makes its cars in three countries: the US, China, and Germany. It's also building a $15 billion factory in Mexico, and while Musk has previously referred to some of its newer factories as "gigantic money furnaces," the company is once again scouting for new countries to scale up its operations.

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Source Fool.com