Saudi PIF In Talks To Invest In Tesla Rival Lucid

[Adam Varga + 123]

The Saudi Arabian sovereign wealth fund that Tesla  Elon Musk has said could help him fund a $72 billion deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors. The talks between PIF and Lucid may not lead to a deal in the end but if  they do, PIF could become a majority shareholder in Lucid for US$1 billion, jeopardizing  the plans of Tesla’s chief executive Elon Musk to take the company private with the help of Saudi money. 

[Vlad Kovalenko + 115]

It really make no sense from PIF side. Lucid is simply not profitable right now.

[Adam Varga + 123]

Hard to say if this is a  good decision or not, but if I had 60k to spend on a car that would be a top contender versus the already boring look of Model S or Model X.

https://lucidmotors.com/

[BlackTortoise + 103]

If PIF is actively involved in leaking information on dealings  or act convincingly about funding w/o the intend, SEC should really look in to it. PIF name is at the center of huge market volatility. 

[Stormysaga + 62]

It would be much much easier to buy an actual semi-startup and get more control, earlier, for less money, without all the baggage, debt and SEC investigations.

[Rodent + 1,424]

Now some Tesla shareholders are calling for Apple to buy a piece of Tesla instead of Saudi's PIF.

http://fortune.com/2018/08/20/tesla-stock-plunge-reignites-speculation-acquisition-apple/