One often-cited statistic encapsulates the potential of this electric-car pioneer: On multiple occasions over the past two years, Tesla, which delivered about 100,000 vehicles in 2017, enjoyed a higher market value than General Motors, which sold 9.6 million that year. In the most recent quarter, Tesla’s mid-price Model 3 ranked for the first time among the five top-selling sedans in the U.S.—a milestone in founder and CEO Elon Musk’s quest to make electric vehicles ubiquitous and affordable. The question is whether Musk can steer Tesla in a straight line. This fall, the SEC sued him for misleading investors in a Twitter post about taking the company private (one of numerous impolitic Musk tweets). In a settlement, Musk gave up Tesla’s chairmanship. Production problems and executive turnover, meanwhile, have fueled doubts about Tesla’s stability.
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The actual $35,000 version should appear in early 2019.
Banister explains why she thinks there’s a need for more diversity of thought in the tech world.
The company's share structure makes a forced change impossible.
Private placements aren’t unusual but they are typically used by much smaller companies.