Lucid Motors - the Tesla rival that's wooing the Saudis

2019 Chevrolet Volt

Musk tweeted his reply at 2:32 a.m. Sunday, per The Los Angeles Times: "Ford & Tesla are the only 2 American auto companies to avoid bankruptcy". "But if we work really hard I think maybe we can do that in about 3 years", added Musk noting that the production of a cheaper vehicle relied on time and scale.

The timing of this news could not be more awkward as it follows Elon Musk's announcement last week that PIF could help him take Tesla private.

Moreover, in the interview with New York Times, the CEO and the founder of Tesla, SpaceX, of course, Elon Musk stated that he did not regret his Twitter posts and here is what he commented "Why would I?" and said that he had no such plans to stop using the social media platform. Since Musk first tweeted about going private on August 7, the stock has slid 20 percent, representing a loss of about $13.5 billion. Rather than soaring toward that value, the stock has since plummeted 20% as parts of Musk's story unravel and pressure mounts on Tesla's board for its handling of the iconic CEO. The company later received a subpoena from the Securities and Exchange Commission over the tweet.

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In the wake of the now-famous tweet, rapper Azealia Banks reportedly spent a weekend at Musk's house while waiting to work on a collaboration with Grimes, which is where things get even more complicated, but more on that later.

The Saudis' Public Investment Fund is in talks for a separate $1 billion investment in Lucid Motors Inc. that would give the fund control of that fledgling automaker, Reuters reported. But the week ended with reports of an SEC inquiry into the tweets Musk posted that sent that Tesla stock soaring. Her description accompanying the open letter describes her as a "flat shoe advocate and sleep evangelist". Then you'll love the Lucid Air's front fascia. The company has since assembled a team recruited from Mazda and Tesla, including Chief Technical Officer Peter Rawlinson, who was chief engineer of Tesla's Model S before joining in 2013. PIF and Lucid have not discussed any talks publicly. Lucid's website is taking refundable $2,500 deposits for the vehicles it plans to eventually sell.

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