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Analyst predicts GM will buy Tesla in 2014

There's little question that Tesla has come at the automotive industry as an outsider. But will it last as an outsider for much longer? Not if you ask Yra Harris of Praxis Trading. According to USA Today, the veteran financial analyst recently predicted on CNBC that General Motors will try to buy Tesla in 2014.
It certainly wouldn't be the first time that GM acquired another automaker. It did just that when it purchased the rights to the Hummer brand from AM General in 1999 and completed its takeover of Saab the year after. But, of course, The General has since divested from both, shutting down its Pontiac and Saturn brands in the process. Daewoo and Oldsmobile are gone too, as is Geo. Chevrolet is to be withdrawn from Europe, and over the past few years, GM has sold its minority stake in Isuzu, Subaru, Suzuki and PSA Peugeot-Citroën as well.
Of course, none of these are dedicated electric carmakers like Tesla is, and the Volt may not be doing as well as Detroit had initially hoped. But does that mean it's ready to start expanding its brand portfolio again? With all due respect to Mr. Harris, somehow we doubt it - especially with Tesla currently enjoying sky-high market valuation. The company's market capitalization stands at over $18 billion - more than 100-plus times its earnings. That would make mounting a Tesla takeover a hugely risky and costly endeavor unless Wall Street tempers its stock value greatly.

Tesla now California's top automotive employer

Tesla has knocked off Toyota as the biggest auto employer in the state of California, employing over 6,000 people to the Japanese company's 5,300. That lead is only likely to grow, as the EV manufacturer prepares to add another 500 jobs by the end of the year, and as Toyota begins its relocation to its new North American headquarters in Texas. The news comes barely a week after the company announced a $50 million loss during the first quarter of 2014.
Tesla's statewide employment could be set to double, beyond even 6,500 people, if it follows through on rumors to construct its eagerly awaited gigafactory in the Golden State. The $5-billion venture could add another 6,500 employees, making Tesla not just the largest automotive employer in the state, but making it one of the largest employers in the state full stop.
The investment of Tesla and its founder (and real-life Tony Stark), Elon Musk, has been substantial. The company has added 3,000 employees in the state since 2013, reopening the Toyota and General Motors joint-venture factory that use to be known as NUMMI in 2009 and constructing a design studio in Los Angeles, all in addition to its Palo Alto headquarters.

Longtime Tesla rival Henrik Fisker exits Twitter after Musk reaches deal to buy platform

Electric vehicle pioneer and Tesla competitor Henrik Fisker exited Twitter this week after his old rival Elon Musk reached an agreement to buy the social media platform for $44 billion. Fisker, who oversees electric vehicle maker Fisker Inc., wrote on Instagram Tuesday: “I believe 100% in free speech. But I do not want my free speech to be actively managed or controlled by a competitor. And I do not want a competitor to determine how my followers experience Fisker as we grow our company.” FiskerÂ’s Twitter handle no longer exists, though his companyÂ’s Twitter feed remained active as of Tuesday with a post of Henrik Fisker test driving a vehicle. Musk did not appear to directly react to FiskerÂ’s move on Tuesday, tweeting two general messages about free speech. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fisker and Musk have long been adversaries. Tesla sued Fisker in 2008 alleging his design company stole Tesla technology and used it to develop his own vehicle. An arbitrator ruled in favor of Fisker. Henrik Fisker did design work on the Tesla Model S sedan before the car launched, when the project was known by the codename WhiteStar. In the early 2010s, FiskerÂ’s first carmaker, Fisker Automotive, was a rival to Tesla and, for a while, they were on nearly equal footing as Fisker promised to bring his attractive sedan called the Karma to market followed up by a string of sleek cars and crossovers. The company, however, had issues with its battery packs and was hit with a string of bad luck, including losing a shipment of vehicles due to fires and floods related to Hurricane Sandy in 2012. It went bankrupt in 2013. The EV landscape has changed dramatically since then, with most major automakers investing heavily in the technology and newcomers like Lucid and Rivian joining the fray. Tesla, meanwhile, took off and catapulted Musk to even greater international fame, along with his PayPal and SpaceX ventures. Henrik Fisker regrouped and founded Fisker Inc. in 2016. It went public in 2020 and is planning to launch the Ocean SUV this year. Before founding EV startups, Fisker was known as a noted sports-car designer who counts the 2005 Aston Martin V8 Vantage and 1999 BMW Z8 among his highlights. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Fisker Tesla Electric Elon Musk Twitter Henrik Fisker