PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO 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 Inc, people familiar with the matter said on Sunday.
The talks between privately-held Lucid Motors and PIF underscore the latter’s appetite to invest in electric car makers to diversify the oil-rich Middle Eastern kingdom’s investment portfolio.
