SAN FRANCISCO—Elon Musk testified on Monday that he was sure he had backing from Saudi financiers in 2018 to take Tesla Inc private, but said the fund later backpedaled on its commitment.
At a trial in San Francisco federal court, Musk told the investors’ lawyer Nicholas Porritt that he met on July 31, 2018, with representatives of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, at Tesla’s Fremont, California, factory.
