Elon Musk has testified that he was sure he had backing from Saudi financiers in 2018 to take Tesla Inc private, as he defended against claims he defrauded investors by later tweeting about his electric car company.
At a trial in United States federal court in San Francisco, California on Monday, Musk told the investors’ lawyer Nicholas Porritt that he had met on July 31, 2018 with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), at Tesla’s Fremont, California factory.
Musk said he did not discuss a takeover price, but the Saudi representatives made clear they would do what it took to make a buyout happen.
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