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Tesla To Build 500,000 Cars Per Year in China
- Thread starter SSgt Dickweed
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Elon Musk says he’s been talking to Saudi Arabia about taking Tesla private
After days of speculation and conflicting reports, Elon Musk has broken his silence about his plan to take Tesla private. In a Monday morning blog post, Musk explained that he has been in talks for weeks with managers of Saudi Arabia’s sovereign wealth fund to finance the massive deal, which some estimate could cost as much as $50 billion. But it’s unclear whether Musk’s explanation will mollify federal regulators, who are reportedly looking into whether his statements from last week were misleading.
Musk said that the Saudis first approached him about taking Tesla private in early 2017, but only ramped up those talks in recent days after purchasing almost 5 percent of the company’s stock on the public markets. Musk said he took a meeting with the managing director of the fund on July 31st, where the director expressed regret that the going private talks hadn’t moved forward.
“He strongly expressed his support for funding a going private transaction for Tesla at this time,” Musk wrote. “I understood from him that no other decision makers were needed and that they were eager to proceed.” He added, “I left the July 31st meeting with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving. This is why I referred to ‘funding secured’ in the August 7th announcement.”
https://www.theverge.com/2018/8/13/17683104/elon-musk-tesla-private-saudi-arabia-deal
After days of speculation and conflicting reports, Elon Musk has broken his silence about his plan to take Tesla private. In a Monday morning blog post, Musk explained that he has been in talks for weeks with managers of Saudi Arabia’s sovereign wealth fund to finance the massive deal, which some estimate could cost as much as $50 billion. But it’s unclear whether Musk’s explanation will mollify federal regulators, who are reportedly looking into whether his statements from last week were misleading.
Musk said that the Saudis first approached him about taking Tesla private in early 2017, but only ramped up those talks in recent days after purchasing almost 5 percent of the company’s stock on the public markets. Musk said he took a meeting with the managing director of the fund on July 31st, where the director expressed regret that the going private talks hadn’t moved forward.
“He strongly expressed his support for funding a going private transaction for Tesla at this time,” Musk wrote. “I understood from him that no other decision makers were needed and that they were eager to proceed.” He added, “I left the July 31st meeting with no question that a deal with the Saudi sovereign fund could be closed, and that it was just a matter of getting the process moving. This is why I referred to ‘funding secured’ in the August 7th announcement.”
https://www.theverge.com/2018/8/13/17683104/elon-musk-tesla-private-saudi-arabia-deal
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@PEB has a great thread on Electric Vehicles where we discuss the Tesla heavily...
http://forums.sherdog.com/threads/official-electric-car-thread-part-4.3735901/
http://forums.sherdog.com/threads/official-electric-car-thread-part-4.3735901/
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500,000 a year is yet another promise that Musk is going to miss. He's the Dana White of the technology industry. He states his dreams are going to be a future reality, and they just disappear or don't show up until 15 years later, but promises it all in one year.
