Report claims that VW was one of the investors ready to take Tesla private, but Elon Musk was unwilling to give away details
28 August 2018

Volkswagen was one of the companies lined up to contribute funding to take Tesla private, according to a report from The Wall Street Journal.

The German car giant was claimed to be one potential investor in the Silicon Valley company, alongside private equity firm Silver Lake and a Saudi sovereign wealth fund. Tesla CEO Elon Musk confirmed on Friday that Tesla will remain a publicly traded company after the deal fell through.

It is not clear exactly why Musk changed his mind about taking Tesla private, but the WSJ report suggested that he balked at the proposal of relinquishing further control of his company in order to secure the investment. 

The necessary investment to take Tesla private was estimated at around $30 billion, of which VW was looking to make a substantial commitment. The company wouldn’t be the first car maker to hold a stake in Tesla, with both Toyota and Daimler investing in the EV start-up’s early years. 

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Meanwhile, Musk could face an investigation by the Securities and Exchange Commission after tweeting about taking Tesla private at $420 per share, claiming funding to do so was “secure”. No board statement or regulatory filings had been made to confirm this. 

The attempted move by VW to invest in a major EV player such as Tesla could be seen as a quick way to gain market share in the EV market — a particular desire for both VW's US operations and overall long-term strategy. 

The firm is expected to launch “practically one new electric model per month” by 2022, according to CEO Herbert Diess. The VW ID hatchback is due to be the company’s first purpose-built EV, launching in 2020. 

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11

28 August 2018

I suppose you could: if you can't beat them, buy 'em

typos1 - Just can’t respect opinion

28 August 2018

Im stunned by how far behind VAG is in electric car development. First purpose built EV IN 2020, i3 etc will be on third generation by then. 

29 August 2018
Lapps wrote:

Im stunned by how far behind VAG is in electric car development. First purpose built EV IN 2020, i3 etc will be on third generation by then. 

Not true the first purpose build EV will come in September 2018 when the E-tron Quattro is launched, then there's the Porsche Taycan next year followed by a whole raft of VAG electric products.

You're also forgetting they have already launched the E-Golf, E-Up and R8 E-Tron. The i3 is a piece of crap, it's not a fun drive. 

 

29 August 2018
Lapps wrote:

Im stunned by how far behind VAG is in electric car development. First purpose built EV IN 2020, i3 etc will be on third generation by then. 

Not true the first purpose build EV will come in September 2018 when the E-tron Quattro is launched, then there's the Porsche Taycan next year followed by a whole raft of VAG electric products.

You're also forgetting they have already launched the E-Golf, E-Up and R8 E-Tron. The i3 is a piece of crap, it's not a fun drive. 

 

29 August 2018
KiwiRob wrote:

Lapps wrote:

Im stunned by how far behind VAG is in electric car development. First purpose built EV IN 2020, i3 etc will be on third generation by then. 

Not true the first purpose build EV will come in September 2018 when the E-tron Quattro is launched, then there's the Porsche Taycan next year followed by a whole raft of VAG electric products.

You're also forgetting they have already launched the E-Golf, E-Up and R8 E-Tron. The i3 is a piece of crap, it's not a fun drive. 

 

 

Can we add the 1984 Golf Citystromer EV and the 1997 Audi A4 Duo plug-in hybrid to that list?

28 August 2018
No wonder Musk changed his mind.

28 August 2018

 I thought Elon Musk wasn’t well?, I read last week he was on anti depressants because of all the pressure he was under...?, anyway, would this have solved VW’s current woes?

Peter Cavellini.

28 August 2018

I suspect that VAG have been too busy cunjuring up "silly" optional extras for their various brands instead of doing any actual research..don't look like they done any research into diesel engines either come to think of it.

28 August 2018

"The attempted move by VW to invest in a major EV player such as Tesla could be seen as a quick way to gain market share in the EV market"  . Is it just accidental that Autocar have picked on this motive for VW?  That would be exactly the reason: Over recent years, Volkswagen have time and time again gone for the quick way, at least this one should have resulted in properly developed technology, rather than relying on their own engineers' substandard efforts.

28 August 2018

Hmm... VW and Saudi Arabia. Some pretty big vested interests there. Did they want to save Tesla or kill it?

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