Tesla Motors, being one of the few electric vehicle start-ups, has trailed through the financial crisis and the Great Recession. In spite of hurdles, the company proved its efforts outstandingly well for rebranding the electric vehicle.
When many consumers characterized an electric vehicle as tiny, odd-looking car that perhaps struggled to reach 50 miles per hour on the high way, Tesla was designing the Model S which would pass by those conventional thoughts in the fragments. As major automakers' EV programs were still in start, or forgotten, Tesla was building its Supercharger network to mitigate anxiety and was breaking ground on its Gigafactory.
Tesla, in spite of manufacturing flaws and uncertain strategy, has ignited a fire under major automakers to stimulate own EV programs. This spells bad news for a chunk of auto supplier stocks.
Nasdaq reported that Morgan Stanley's analyst Adam Jonas described the issue in a note to investors, while slashing own price target on Delphi Automotive from $74 down to $59.
In another news, Info-europa reported that Tesla Motors Inc is not only an electric auto company now with Tesla Model S Review - the ultimate rental care. Elon Musk has given a big blow to the roofing industry. The all-stock deal was of worth $2.6 billion companies approved in August. It is stated that the final terms will be determined by the value of Tesla shares on the day when the merger comes into effect.
"The transaction will be completed in the coming days", Tesla says.
Hurricane Otto kills 9 in Costa Rica when fishermen drive boat to a safe place ahead of the arrival of hurricane Otto at the Bluefields, Nicargua.
Forecasters stated that Otto's landfall location is the outermost south on record that a hurricane has ever hit in Central America.
As critics call the deal a bailout, when SolarCity went through a rough run.
"The integration of SolarCity's sales, service, and installation operations with Tesla's extraordinary product development and manufacturing acumen will create a highly differentiated, integrated sustainable energy company ideally positioned to capture the $1 Trillion-plus global marketplace for transportation, energy sales and energy infrastructure".
With SolarCity acquisition in thought process, Musk urged Tesla employees to slash costs and "deliver every auto we possibly can" with a determination to boost profitability.