Saudi Investment Fund Eyes Tesla Rival

Brenda Watkins
August 21, 2018

The question even came up during a Tesla earnings call previous year, when a Morgan Stanley analyst pointed out to Tesla CEO Elon Musk that Apple has more than enough cash to buy Tesla and could help it achieve its vision.

"Ford & Tesla are the only 2 American auto companies to avoid bankruptcy", he tweeted.

What do you think of Elon Musk's extreme work schedule? "It is not", Musk wrote in a tweet in response to Arianna Huffington, who in an open letter on Friday said Musk and the future of Tesla would be better off if he regularly built in time to "refuel" and "recharge".

Tesla has marketed its top-of-the-line models that boast head-snapping acceleration as having "Insane" and "Ludicrous" modes.

Turkey detains two men over shooting at USA embassy in Ankara
Police teams were searching for the assailants, who fled in a white auto after the attack, CNN Turk said. The embassy is closed this week for a public holiday to mark the Islamic Eid al-Adha festival.

Musk said that in late July, he met Saudi Arabian sovereign fund representatives to discuss the electric carmaker's possible exit from the stock market. Last week, the Securities and Exchange Commission sent the company a subpoena regarding the statement.

JPMorgan has cut its price target for Tesla by 36% to $195 a share as questions continue to surround the electric-car maker's bid to go private. There's no way you can connect with your fantastic vision and creativity when you don't give yourself time to reconnect not just with those you love but also with yourself and your wisdom, ' she added.

Still, the Tesla CEO tweeted that Ford Motor Co. and Tesla are the only two American vehicle companies to have avoided bankruptcy, and dismissed the idea that he was able to cut his workload.

He later said that meetings with Saudi Arabia's sovereign wealth fund had given him confidence to announce the news. The interview followed mixed efforts throughout the week by the Tesla CEO to clean up the controversy created earlier with tweets indicating that funding for a mass buyback of stock had been lined up, which caught the Tesla board and many analysts by surprise since public announcements of such moves are usually done at the very tail end of a lengthy process. "It was excruciating", Musk told The New York Times in the interview. But in April 2017, chief technology officer Peter Rawlinson said the company didn't have the money in place to start construction and needed to complete a fourth round of fundraising, known as Series D. Since then? Silence. There had been talk back in 2016 of a factory in Arizona and of a new headquarters facility in Silicon Valley last fall, but while Tesla has been going through production hell, Lucid seems to have been in suspended animation mode.

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