Tesla is reportedly in early talks with Saudi Arabia on electric vehicle factory
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Tesla (NASDAQ:TSLA) swung slightly higher in premarket trading on Monday after a report indicated that Saudi Arabia is in early talks with the electric vehicle maker to build a manufacturing facility in the nation.
Sources told the Wall Street Journal that Saudi Arabia has been offering Tesla (TSLA) the perk of being able to purchase certain quantities of metals and minerals the company needs. One of the proposals under consideration involves extending financing to commodities trading giant Trafigura to help Tesla (TSLA) secure needed minerals from nations such as Congo.
Neither Tesla (TSLA) or Saudi officials had confirmed the reported talks at the time of publication. Looking back a bit, Tesla (TSLA) CEO Elon Musk rattled investors back in 2018 when he tweeted that the company had secured funding from Saudi Arabia's Public Investment Fund to take the company private. 
Saudi Arabia has made a stronger push into the electric vehicle sector over the last two years. 
Shares of Tesla (TSLA) were up 0.14% at 7:38 a.m. after being in negative territory earlier in the premarket session.

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