Tesla CEO Elon Musk will stay at the electric car company as long as he is useful amid investor concerns that buying Twitter would distract him from his job at Tesla.
will stay at the electric car company as long as he is useful amid investor concerns that buying Twitter would distract him from his job at Tesla.
In late April, Musk clinched a deal to buy Twitter for US$44-billion in cash in a transaction that sparked concerns that the social media platform would divert Musk’s attention from Tesla, SpaceX and other companies. He recently sold $8.5-billion worth of his Tesla shares and plans to borrow against some Tesla stock to help finance the Twitter deal.
Tesla operated its Shanghai plant well below capacity early this week, after reopening it in late April after a 22-day closure. He said Tesla does not expect to open additional factories in China in the near future, adding that it will expand its Shanghai factory. He said China is a significant market, but expected China to account for about 30% of Tesla’s total market in the long term.
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