The Lucid Air. Photo: Timothy A. Clary/AFP/Getty Images

Saudi Arabia's sovereign wealth fund may invest in luxury electric vehicle startup Lucid Motors, according to Reuters, which reports that recent discussions could result in the Saudis eventually investing over $1 billion and obtaining majority ownership.

Why it matters: The report comes just days after Tesla CEO Elon Musk claimed the Saudi Public Investment Fund (PIF) was "eager" to bankroll his plan to take Tesla private.

  • The Reuters piece and Musk's claims, taken together, signal Saudi interest in electric vehicles as one of the tech sectors that can help diversify their oil-dominant economy.
  • However, Reuters' framing of the potential Lucid deal creates even more uncertainty about the Saudis' readiness and ability to invest heavily in Musk's expensive take-private plan.
  • "A deal with Lucid Motors would . . . be more in line with PIF’s limited resources, given that, despite its $250 billion in assets, PIF has already made substantial commitments to other technology companies or investments, including a $45-billion agreement to invest in a giant technology fund led by Japan’s SoftBank Group Corp.," they report.

Go deeper: USA vs. Elon Musk.

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The Trump administration’s full-steam-ahead push to fully reopen schools this fall is on a collision course with the U.S.' skyrocketing coronavirus caseload and its decades-long neglect of public education.

Why it matters: Getting kids back to school is of paramount importance for children and families, especially low-income ones. But the administration isn’t doing much to make this safer or more feasible.

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Why it matters: People that make up the so-called sandwich generations are typically in their 30s, 40s and 50s, and in their prime working years. The increasing family and financial pressures on these workers means complications for employers, too.

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Biden and Clinton visit Biden's childhood home in Scranton in 2016. Photo: Melina Mara/The Washington Post via Getty Images

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Driving the news: Biden returns to Scranton, Pa., today with a campaign stop just outside the city limits at a metalworking plant, where he'll deliver remarks on a plan to create jobs and "help America build back better."