Saudi PIF In Talks To Invest In Tesla Rival Lucid

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. 

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

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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/

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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. 

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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.

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