Photo: Joshua Lott/Getty Images

In addition to possible competition from Lucid, an electric vehicle startup that will receive more than $1 billion from Saudi Arabia's sovereign wealth fund (PIF), Tesla is still trying to repair damage from CEO Elon Musk's self-inflicted wounds.

Why it matters: Tesla is in one of the rockiest stretches of its 15-year history as it seeks to show consistent and well-executed Model 3 production increases and to make good on Musk's promise of imminent profitability.

Driving the news: Just hours after the PIF announced its investment into Lucid, there was news that a British cave diver who played a role in rescuing the Thai boys soccer team is suing Musk over his baseless accusations of pedophilia.

Threat level: The lawsuit underscores how Musk's erratic behavior is a distraction at a critical time. And this is compounded by the continued fallout from the going-private fiasco, which has brought an SEC inquiry over Musk's claim that he had "funding secured."

The intrigue: Via The Washington Post, "The lawsuit could amplify calls for Tesla to install a high-ranking executive or co-captain who could keep Musk’s more self-destructive instincts in check."

The big picture: On the competitive side, don't forget that Tesla is by far the biggest player in the U.S. EV market today and has lots of European growth potential.

  • Nonetheless, the Lucid news shows how the EV field is getting more crowded as startups and legacy automakers — like Audi — plan new models at various price points.

A couple of noteworthy pieces about Tesla's competitive position:

  • Over in Bloomberg's opinion section, Liam Denning writes, "Lucid’s funding is a reminder that Tesla has a target on its back." He notes that despite Tesla's powerful U.S. position, "operational snafus mean it isn’t capitalizing on the current window of opportunity the way it was supposed to."
  • Yes, but: Per MarketWatch: "Tesla Inc. faces no competition at present, and when it does it will be able to hold its own, analysts at Bernstein said in a note Monday. ... What should keep Tesla investors worried? Execution rather than competition, the Bernstein analysts said."

Go deeper: Potential Tesla rival Lucid Motors makes its move.

Go deeper

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In pictures: Storm Zeta churns inland after lashing Louisiana

Debris on the streets as then-Hurricane Zeta passes over in Arabi, Louisiana, on Oct. 28. It's the third hurricane to hit Louisiana in about two months, after Laura and Delta. Photo: Sandy Huffaker/Getty Images

Tropical Storm Zeta has killed at least two people, triggered flooding, downed powerlines and caused widespread outages since making landfall in Louisiana as a Category 2 hurricane on Wednesday.

The big picture: A record 11 named storms have made landfall in the U.S. this year. Zeta is the fifth named storm to do so in Louisiana in 2020, the most ever recorded. It weakened t0 a tropical storm early Thursday, as it continued to lash parts of Alabama and the Florida Panhandle with heavy rains and strong winds.