Mexican Media Brands
Tesla’s Board Steps Back from Musk’s Delisting Plan
Tesla Inc.’s board has formed a special committee to study CEO Elon Musk’s “consideration” of a plan to take the electric car company private.
#economics
Share
Tesla Inc.’s board has formed a special committee to study CEO Elon Musk’s “consideration” of a plan to take the electric car company private.
The move marks a sharp retreat from Musk’s declaration on Aug. 7 that the necessary funding to privatize the company was already “secured.”
The committee says it has not received a formal privatization proposal from Musk, who owns 20% of the company. The panel cautions that it has reached no conclusion about the advisability or feasibility of Musk’s proposal. It further emphasizes that no assurances can be given that such a proposal would be accepted or completed.
The special panel comprises three independent directors: Brad Buss, Robyn Denholm and Linda Rice. The group says it has retained its own legal counsel and intends to add an independent financial advisor.
The committee’s advisors are in addition to separate legal counsel retained by the company specifically for the privatization option, and by the two legal firms and two financial advisors Musk has retained for himself.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.