Monday, 20 November, 2017

Elon Musk to Tesla's disgruntled shareholders: Buy Ford

Elon Musk enters the lobby of Trump Tower in Manhattan New York Telsa's Musk announces plans for semi-truck launch
Juana Turner | 15 April, 2017, 05:59

Led by the enigmatic Musk, Tesla recently became the most valuable USA vehicle company, passing General Motors Co for the top spot.

The Tesla CEO used Twitter to fire back at a group of investors who called for the electric auto maker's board to add two new directors who have no ties to Musk.

According to Seeking Alpha, Ramsey also questioned whether it would just be the truck, or would Elon Musk also expand Tesla's network of electric charging stations in order to manage commercial vehicle needs. Musk has previously said last year that the company was working on developing an electric truck but has since been providing very few details, saying that it would have self-driving capabilities like the other new Tesla models. Defiantly he tweeted they should buy Ford shares, adding sarcastically: "Their governance is incredible...". a reference to the fact that the Ford family controls that carmaker.

These announcements come after Musk quipped frustration with his board via Twitter.

"We expect that as companies make the transition to publicly-traded status, the governance structures and practices in place at the time of the IPO will evolve to align with the company's changing strategy", Reuters cited the letter as saying. After his initial tweet, Musk went on to say that a pickup truck would also be appearing within the next 18-24 months, so it would seem Tesla's portfolio of electric vehicles is due a serious expansion in the next couple of years. While it declined slightly this week, it's still one of the highest market value automakers in the United States.

Soon to launch in Ireland, Elon Musk's company has already established itself throughout much of the US, Europe, Asia and the Middle East. Musk discussed both in the second volume of his "master plan" for Tesla.

The $2 billion stock deal for the money-losing installer of residential solar power systems, prompted a 13 percent fall in Tesla's share price after Musk outlined it last June.

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