Home Business MC Insider: Tesla slipups, listing hazards, more IPOs, dividend rumours, deal buzz...

MC Insider: Tesla slipups, listing hazards, more IPOs, dividend rumours, deal buzz and more

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Tesla Motors CEO Elon Musk is considering taking the company private, saying it would be less distracting that the "enormous pressure" of meeting quarterly financial targets.



A document from the Karnataka chief minister’s office released over the weekend sent journalists in a tizzy. A line in the document listing highlights of the Union Budget mentioned Tesla will set up a manufacturing unit in Karnataka. Turns out it was a false alarm, yet again! Officials close to the CM clarified later to a few journalists that it was more of a political statement and nothing has been signed yet. What’s more puzzling is how a mention of Tesla made it to highlights of Budget document when the Budget itself didn’t say anything about Tesla making in India. This is the second time the CM’s office has back pedaled on Tesla’s plans in the state. A tweet claiming Tesla would set up an R&D center in last month was posted and deleted within an hour, leaving top bureaucrats to field angry calls from Tesla. Officials were on the phone yet again last night, telling journalists it was all a misunderstanding. While the carmaker has registered its office in Bengaluru, talks are still on between the two parties, even as states such as Tamil and Maharashtra are very much in the race to woo Tesla. As one veteran journalist quipped to MC Insider, “All that Karnataka government and Tesla have done is have a coffee. At this rate, the company will set up elsewhere.” Or is this a hint from the CM that an announcement is imminent? Well, it’s not over till it’s over!



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