The Saudi companies ultimately do not invest in Tesla and prefer to buy the competition

Tesla Elon Musk, head of the car manufacturer, is trying to find funding to get the company out of the stock market.

Last week, Tesla, the head of the American car manufacturer, Elon Musk, said he wanted the company's stock to be taken out of the stock market. According to him, he also spoke with the representatives of the Saudi Arabia investment fund PIF.

But as Reuters reported, Saudi eventually changed their position. Instead of buying Tesla, they decided to join Lucid's competitive car.

Like Tesla, it only produces electric vehicles. According to Reuters, PIF should buy Lucid for a billion dollars (862 million euros) plus a cash injection of $ 500 million (431 million).

The share price of Tesla has seen significant movements in recent days. Even on Thursday, it was $ 340. However, within two days it dropped to $ 290. However, in the last two days the price has risen to $ 320.

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