Whoa.

Saudi Arabia’s sovereign wealth fund invested over $1 billion Monday in American electric car manufacturer, Lucid Motors.

That’s bad news for Tesla, as it signals that the kingdom may be moving in a different direction, just weeks after CEO Elon Musk claimed the fund would help his own firm go private.

The Public Investment Fund (PIF), which invests on behalf of the Saudi government, said the infusion would go toward launching the Lucid Air electric sedan by 2020.