HomeFinanceTesla is going to sell electric cars in the Middle East

Tesla is going to sell electric cars in the Middle East

Elon Musk in 90 Seconds

Tesla is bringing its electric cars to the coronary heart of the oil producing world.

The automaker introduced Monday that its first official enterprise in the Middle East shall be in the United Arab Emirates.

The first cars — the Model S and Model X — will hit the street this summer time.

“Timing seems to be good to really make a significant debut in this region starting in Dubai,” Tesla (TSLA) CEO Elon Musk mentioned at the World Government Summit in Dubai.

Tesla homeowners may have entry to two current supercharging stations in the UAE, and Telsa plans to open 5 extra by the finish of the 12 months.

Despite sitting on enormous oil and fuel reserves, the UAE has bold plans to go inexperienced. Last month it mentioned it’ll make investments $163 billion to increase various vitality use over the subsequent three a long time.

Related: Tesla reveals what it’ll cost for a cost

It’s the newest in a collection of enlargement bulletins for Tesla. Last week, Musk hinted that Tesla might quickly come to India.

Musk has additionally teased plans to construct “heavy-duty trucks and high passenger-density urban transport” as effectively growing a ride-hailing community, which may very well be comparable to Uber.

Speaking in Dubai, the entrepreneur expounded on the way forward for robotics.

“We will see autonomy and artificial intelligence advance tremendously,” Musk mentioned. “In probably 10 years, it will be very unusual for cars to be built that are not fully autonomous.”

Related: Elon Musk’s shocking secret weapon: Trump?

But he additionally warned of the “disruptive” nature of autonomous automobiles.

“That disruption I’m talking about will take place over about 20 years. Still, 20 years is a short period of time to have something like 12% to 15% of the workforce be unemployed.”

Musk mentioned governments should pay shut consideration to synthetic intelligence, create sustainable transport and be cautious of mass unemployment.

“This will be a massive social challenge. Ultimately, we need to think about universal basic income. I don’t think we have a choice,” he mentioned. “There will be fewer and fewer jobs that a robot cannot do better.”

— Seth Fiegerman contributed reporting.

CNNMoney (Dubai) First printed February 13, 2017: 11:06 AM ET

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