Elon Musk is hoping an investment from Saudi Arabia's sovereign wealth fund can help take Tesla Inc. private, but it may strike an investment deal with a Tesla rival, according to a report Sunday. The fund, called PIF, is in talks to invest in electric-car startup Lucid Motors Inc., according to Reuters. The report said after an initial $500 million investment, PIF could eventually invest more than $1 billion and gain majority ownership of the Newark, Calif.-based company. Lucid was founded in 2007 by former executives from Tesla and Oracle Corp., and has received significant funding from Chinese investors.