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Google was about to take on Tesla
Elon Musk, owner of Tesla Motors, would have company in March 2013 almost sold to Google. He would have closed a takeover deal with Google CEO Larry Page, as Tesla was in trouble. When Tesla’s sales suddenly increased, Musk blew off the appointment.
The near-deal is described in a publication for the book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, published on 19 May. Author Ashlee Vance, a tech reporter for Bloomberg, Musk and interviewed more than three hundred others for his book on the entrepreneurial billionaire.
Tesla wrong early 2013 in difficulty. In June 2012 introduced the Model S, the first electric sedan of the company, had some teething problems. As the sun visors were not finished well and showed the retractable door handles cures. A critical review in The New York Times did the reputation of the car no good. According Musk took the article are now $ 100 million. Customers deferred purchase massively. In the first week of March Musk was the Tesla factory in Fremont, California, and even shut down.
Musk went with Page in consultations on a takeover. He would almost $ 6 billion, about 5.6 billion for his company asked, plus the promise that Google would invest $ 5 billion in the expansion of the factory. Musk would further a condition that Google would not split the company or raise until it had brought a derdegeneratie- electric car on the market. In addition to Google Musk would guarantee requested that he should stay with the company in the lead for at least eight years or until Tesla would bring a third-generation car on the market. Page would have agreed.
While lawyers from Google and Tesla negotiated the details of the agreement, Tesla suddenly began to sell thousands of cars. According to Vance had Musk personally assembled a team that people with reservations for the Model S was to convince the phone to buy the car yet. The very good sales ditch Tesla late April its first quarter with a profit. Consequently, the share doubled Tesla amply and were averted financial problems, which Musk Google no longer needed.
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