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Tesla Would Consider Buying Inactive GM Plants, Says Musk

Tesla plans taking over General Motors that are in-active at the current stage, CEO Elon Musk said in an interview to “60 Minutes” on Sunday night.

“It’s possible, we were interested, if they wanted to sell a factory or not to use it, we would take care of it,” he said.

The SEC forced Musk to resign as chairman for three years. The company appointed Robyn Denholm as chairwoman, who was already on board. Tesla struggled to accelerate production of its high-profile, mid-size 3-model sedan and then built a second assembly line in a tent-like structure next to its factory in Fremont, California. The decision taken by Tesla has been mocked by a number of people in the industry.

Musk said the appreciated version of Model 3, worth $35,000, will probably be available in 5 to 6 Months. This is the value of the vehicle that Tesla originally promised to be an electric sedan for the stacks when it was first unveiled in March of 2016. Since then, Tesla has produced only an expensive version of the car the car.

The decision by GM is to decrease the production of several factories and eliminate 14,000 jobs, made people, lawmakers, and union leaders angry and anxious in regions that are dependent on factory work. Some say that GM’s verdict is an essential step to save the future of the company in the light of new consumer trends, with new potential new competitors like Tesla, and technologies.

In the previous week, the shares of Tesla touched the milestone and have significantly reduced the pressure of the company. In last week the shares of the company closed at $363, which in contrast to $359.88 on $920 Million worth convertible bond. The company’s stock was under stress since Musk was on the counterattack.

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