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.
A couple of noteworthy pieces about Tesla's competitive position:
Go deeper: Potential Tesla rival Lucid Motors makes its move.
