Elon Musk does a 180-degree turn – by abandoning plans of taking Tesla private.
Earlier this month, Musk’s tweet indicating that he had “secured funding” for taking Tesla private was apparently met with speculation and confusion among several people over the plan’s potential and/or impact on the company’s future. But in his note on Tesla’s website posted late Friday, Musk indicated a change of heart following discussions with shareholders, a majority of who preferred the company to remain public. Musk is now focused on improving Model 3’s production and profitability, as mentioned in his post.