Elon Musk is ready to turn Tesla into a private company

Elon Musk is ready to turn Tesla into a private company

August 8, 2018 0 By autotimesnews

Elon Musk can redeem all shares of Tesla and withdraw the company from the stock exchange. He wrote about this on his Twitter. In this case, the price per share will be 420 dollars. Founder Tesla stressed that the final decision on this issue has not yet been made.

“I’m going to buy Tesla at $ 420 per share. Funding is provided, “- wrote Mask.

Later on the official site of the automaker there was a message in which Max explained the main advantages of turning Tesla into a closed joint stock company. According to him, after such measures, the company’s shares will fluctuate less.

“Due to the fact that Tesla is a joint-stock company, we experience the consequences of significant fluctuations in the share price, which affects everyone who works for Tesla and is a shareholder,” the top manager explained.

The company Tesla Motors in the second quarter of this year suffered record losses – the net loss of the American manufacturer of electric cars exceeded 717 million dollars. As a result of the first quarter, the company also incurred losses – $ 709.5 million.

The American company will explain such losses by big investments in new models. Among them, the first place belongs to the Model 3 electric car. In Tesla they assured that this electric car has already started to make a profit. In total, the company is going to produce 50-55 thousand such cars in the third quarter.

Earlier, the head of Tesla Elon Musk appealed to the suppliers with a request to return some of the money that was paid to them under the terms of contracts from 2016 onwards. The document states that, thanks to this return, Tesla will be able to make a profit and continue its normal operation. In the company itself, they are only talking about negotiations with suppliers to reduce the price of some contracts.

Tesla, a company focused on the production of electric vehicles, was founded in 2003. Since 2008, he sells the Tesla Roadster. In 2012, the company introduced the Model S sedan. The manufacturer’s headquarters are in Palo Alto, California.