If the aborted Google Inc (NASDAQ:GOOGL) acquisition of Tesla Motors Inc (NASDAQ:TSLA) tells us one thing, it is how much Tesla founder Elon Musk is committed to the electric car maker.
The observation can be made based on details shared by Ashlee Vance to Betty Liu on Bloomberg’s In The Loop.
“It’s an interesting deal. He wanted Google to buy Tesla and then he also wanted these guarantees. He wanted about $5 billion that Google would put towards Tesla’s factories and making sure that the Model S and future cars came out. Elon also wanted to guarantee that Tesla got this third-generation car that they are working on out. It is going to be around $35,000,” Vance tells his colleague Liu.
Vance is the Bloomberg reporter who broke the story of how serious Elon Musk was in negotiating a deal that would have seen Google Inc (NASDAQ:GOOGL) owning Tesla Motors Inc (NASDAQ:TSLA) if it went through. Vance is the author of a book which will be released next month that discusses Musk.
Liu confirms with Vance that Musk, the serial entrepreneur who got his first big start in business with Zip2 and PayPal, was actually open to working under Google Inc (NASDAQ:GOOGL) CEO, Larry Page, for eight years as part of the acquisition terms. Vance says this is true.
“Yes, because for Elon, this third-generation car is sort of one of his big callings in life and he was worried that Google might be into bringing that car to market initially then back out later on and so he wanted to be there personally to see that it came to fruition,” Vance tells Liu.
Tesla Motors Inc (NASDAQ:TSLA), it appears, is really Elon Musk’s baby.
Though the Google Inc (NASDAQ:GOOGL) acquisition did not become reality, the facts being revealed about the deal have given people a great deal of information about how committed Elon Musk is to the company he built.
Industry observers note that the Model 3, its lowest-cost car yet included in the roadmap the company has revealed, will bring Tesla Motors Inc (NASDAQ:TSLA) to a better status as it brings the electric car to a lower end of the market which is accessible to more people.
Boykin Curry’s Eagle Capital Management owned 774,750 Class A Google Inc (NASDAQ:GOOGL) shares as 2014’s last quarter came to a close. The stake, which makes up 1.55% of the whole Eagle Capital Management portfolio, was reduced 2% quarter-over-quarter. Daniel Benton’s Andor Capital Management owned 1.25 million Tesla Motors Inc (NASDAQ:TSLA) shares by the end of the same period.
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