21 Aug 18
News

Saudi PIF may invest in Tesla-rival Lucid

PIF, the Saudi Arabian investment fund, is in talks to invest in aspiring Tesla rival Lucid Motors, reports Reuters.

The news comes as a surprise as Tesla CEO Elon Musk has announced a deal with the same PIF to help Tesla go private.

A deal with Lucid Motors would be more in line with PIF's limited resources, given that the investment fund has already made substantial commitments.

The talks between PIF and Lucid Motors may not result in a deal, the sources cautioned to Reuters.

Image source: Lucid Motors

Authored by: Benjamin Uyttebroeck