Tesla shares jumped after reports, later denied, that Volkswagen planned to take a stake in the electric car pioneer—and analysts didn’t see much chance of a near-term deal
Tesla’s share price made it too expensive to justify a takeover bid, or a smaller equity stake, they said. But if the share price dived to more realistic levels that might awaken interest from VW, or any other big auto maker seeking to bolster its electric credentials.
Reuters’ Breaking Views columnist Liam Proud said the alleged plan had logic, but would only materialize if Tesla’s finances deteriorated. Breaking Views’ Proud reckoned Tesla could use VW’s manufacturing expertise, and would welcome access to its massive financial resources, but doubted if CEO Musk would be interested.
The report from Manager Magazin was published on the day VW was unveiling its new electric car, the ID.3, and talked about its plans for similar battery powered vehicles. VW is expected to unveil similarly equipped electric versions of the ID.3 in Frankfurt of its SEAT Mii and Skoda Citigo mass market brands.
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