Reuters: Saudi Arabian sovereign wealth fund could invest in Tesla rival Lucid

Ovidiu Posirca 20/08/2018 | 10:06

The sovereign wealth fund (PIF) of Saudi Arabia is in talks to negotiates in aspiring Tesla rival Lucid Motors Inc, reported Reuters, citing people familiar with the negotiations.

PIF is the same fund which Tesla head Elon Musk said could help him fund an offer to delist his company.

Under the terms of the ongoing negotiations, PIF could invest more than USD 1 billion in Lucid Motors and obtain majority ownership, the sources said. The sources warned that the negotiations may not result in a deal.

Lucid Motors was founded in 2007 as Atieva by Bernard Tse, an ex-Tesla vice president and board member, and Sam Weng, a former exec at Oracle Corp and Redback Networks. The company is based in Newark, California. Its backers include Venrock, Mitsui & Co, Tsing Capital.

BR Magazine | Latest Issue

Download PDF or read online: July 2023 Issue | Business Review Magazine

The July 2023 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “At a Crossroads: Budget Deficit Endangering Romania’s Economic
Ovidiu Posirca | 31/07/2023 | 14:14

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of

    I agree with the storage and handling of my data by

    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue