Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Sign up for Axios Pro Rata
Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Want a daily digest of the top Nashville news?
Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.
Want a daily digest of the top Columbus news?
Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.
Want a daily digest of the top Dallas news?
Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.
Want a daily digest of the top Austin news?
Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.
Want a daily digest of the top Atlanta news?
Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.
Want a daily digest of the top Philadelphia news?
Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.
Want a daily digest of the top Chicago news?
Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.
Sign up for Axios NW Arkansas
Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters
Want a daily digest of the top DC news?
Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.
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.