Oil and Gas

Saudi's Prince Alwaleed bin Talal says Tesla valuation "too exuberant" - CNBC

DUBAI, Oct 23 (Reuters) - Saudi Arabian billionaire Prince Alwaleed bin Talal said on Monday the valuation of electric car maker Tesla Inc was “too exuberant” for him to invest in the company.

“I would rather not comment on that because maybe some people think the valuation is right but it’s not for me to enter that price obviously. It’s too exuberant for me right now,” he said in an interview with CNBC.

He also said that U.S. ride services company Lyft was better priced than rival Uber when his investment firm Kingdom Holding bought into Lyft.

“We thought Lyft was a better entry point for us because at that time Uber’s price was at the high side,” he said, adding that Uber was “still a great company.”

Reporting by Maha El Dahan, Sylvia Westall, and Alexander Cornwell; Editing by Susan Fenton