tesla-musk-model-3
Elon Musk standing near a Tesla vehicle

Elon Musk has offered more details on his plan to take Tesla private and said that he has discussed financing the deal with Saudi Arabia.

In a blog post, Elon Musk said he has met with Saudi Arabia’s investment fund for about ‘two years’ about the possibility of a take-private transaction.

He said: “They first met with me at the beginning of 2017 to express this interest because of the important need to diversify away from oil.”

Musk said he felt it was necessary to inform all shareholders of a possible deal.

The blog post comes as SEC investigators are looking into the truthfulness of Musk’s tweets and whether they violated the agency’s fair disclosure rules.

Musk tweeted last week that funding was secured for a possible Tesla buyout.

Editorial Team
The Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with data and insights to deliver useful news updates. We are experts with the mission to inform, educate and inspire the industry. We are passionately curious, enthusiastic, and motivated to positively impact the world. Send us a tip via hello @ pvbuzz [dot] com.

IEA warns U.S.-China trade spat could hit oil demand

Previous article

Nova Scotia launches solar rebate program at $1.00/watt—approx. 30% of system cost

Next article

You may also like

Comments

Comments are closed.

More in News Watch