Saudi Arabia is best known as a major oil producer, but has now announced it is to become an electric car maker as part of its ambitious diversification plans.
The Crown Prince of Saudi Arabia wants to take on Tesla and supercharge the kingdom's automotive sector.
The Telegraph reports that Mohammed bin Salman, the de facto ruler of Saudi Arabia, has unveiled plans for Ceer - the country's first electric car company.
A joint venture between the kingdom's sovereign wealth fund and Taiwanese technology company Foxconn, the new firm will use technology licensed from Germany's BMW and sell cars across the Middle East.
The Saudi Public Investment Fund (PIF) was previously a major investor in Elon Musk's electric car company Tesla, but sold down nearly all of its multibillion-dollar stake in 2019.
The PIF and Mr Musk had a private falling out over the Tesla billionaire's failed effort to buy out the electric car company in 2018.
Cold feet
According to text messages revealed as part of a US court case, Mr Musk accused the head of the PIF of "throwing me under the bus" after it got cold feet during his efforts to take the company private.
The text messages also revealed the desire of Saudi officials to build a Tesla factory in the kingdom, which failed to materialise.
Saudi Arabia has since invested heavily in rival electric vehicle companies, including pumping $1billion (£890million) into Lucid Motors. Lucid is building a factory in the country.
Under the Crown Prince, Saudi Arabia has taken on a series of ambitious infrastructure and technology projects to diversify its economy from its status as a petrostate.
His proposals include a $500billion (£446billion) megacity called Neom, as part of Saudi Arabia's "Vision 2030" programme.
Foxconn assembles Apple's iPhones, but is aiming to build half of the world's electric cars and has revealed its own prototype electric vehicles.
Representatives for the Saudi joint venture claimed it would generate $150million (£133million) in foreign direct investment and support up to 30,000 jobs in the country. The vehicles are expected to be ready by 2025.
The Crown Prince said: "Saudi Arabia is not just building a new automotive brand - we are igniting a new industry."