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It’s been about a month since Tesla Motors has paid off the entire loan awarded by the US Department of Energy (DOE) in 2010, and reports are already talking about the company becoming an important takeover target. Now that Tesla reported its first quarterly profit and stock has surpassed the $100 mark, rumor has it Google might be interested in acquiring the California-based automaker.
It’s not just another Apple buys Fisker April Fools joke, but do note that we’re still on the speculative side of the automotive industry with this one. According to Bloomberg, Google could make the jump if Tesla manages to “scale up vehicle sales”, but only if Elon Musk decides to part with his company.
“Tesla has developed an appealing and credible product with game-changing technology,” said Jim Press, former deputy CEO of Chrysler Group LLC. “They need to prove their success is sustainable for the long term and that it is based on a solid financial foundation. If they do, they should be an appealing takeover target.”
But even if Tesla proves to be a huge financial success, Musk is likely to remain with the company. "I've said from the very beginning, from the creation of Tesla, that our goal is to create a compelling mass-market car. I would not consider stepping away from Tesla until we're there. We're several years away obviously,” Musk told Bloomberg last month.
Story via Bloomberg
“Tesla has developed an appealing and credible product with game-changing technology,” said Jim Press, former deputy CEO of Chrysler Group LLC. “They need to prove their success is sustainable for the long term and that it is based on a solid financial foundation. If they do, they should be an appealing takeover target.”
But even if Tesla proves to be a huge financial success, Musk is likely to remain with the company. "I've said from the very beginning, from the creation of Tesla, that our goal is to create a compelling mass-market car. I would not consider stepping away from Tesla until we're there. We're several years away obviously,” Musk told Bloomberg last month.
Story via Bloomberg
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