Saudi fund May Only Play Minor Part in Elon Musk's $72 Billion Tesla Plan, Say Bankers - Tech news daily

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Wednesday, 15 August 2018

Saudi fund May Only Play Minor Part in Elon Musk's $72 Billion Tesla Plan, Say Bankers

The Saudi PIF already holds about a 5 percent stake in Tesla. Saudi Crown Prince Mohammed bin Salman, who heads the PIF, is driving to diversify the Saudi economy beyond oil exports by developing new industries.

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