WELCOME

Bloomberg reports that Musk "said he has $500 million in

Feb. 2, 2019 by Katherine Berry

Bloomberg reports that Musk "said he has $500 million in private equity capital to help put together a project to build a battery store called 'Tesla Electric' [in the kingdom]."

While it's not clear from the initial reporting on Musk's initial tweet that any of that financing was actually secured, it would be significant in light of the fact some of the details of his initial tweet were already publicly known. The news also comes as Tesla's stock has soared since Musk's initial tweet.

Tesla shares are up over 11 percent, or about $3.17, during the first half of 2016. According to the company's website, its second quarter earnings are expected to be "on track for 2016. We expect to report a positive earnings per share for the last quarter of 2016."

The company is also taking stock of a number of new startups being created by Tesla and Musk at this time.

Bloomberg cites unnamed sources on the issue as stating that an investor who has "invested in Tesla in the past" has been working with Tesla "to bring about the company's development." In other words, they've given Musk a reason to come out of the woodwork.

Bloomberg reports that Tesla is also working with some investors in the US called the 'R&D Strategy Alliance' to help fund the company.

Earlier this week, Tesla CEO Elon Musk said he would not be "going into the business of making money off of Tesla" any longer.

The company will continue to develop its battery factory to replace obsolete gas-powered vehicles and the Model 3, according to Bloomberg. The company's share price has been down over 15 percent this year, though the company has recently seen gains in the automotive sector. Tesla has also announced plans to put a battery factory in California in the next few months.

Tesla is also making plans to sell new electric cars, which are already powered by the company's Model 3 battery, Bloomberg reports.

Source: BloombergMumbai: The Indian government has launched a "non-standard" service for the poor to get the basic goods and services of life, said a National Central Bank spokesperson.

The service will be made available by the end of September and will be carried out through a "non-standard" system, where the poor are offered a choice of goods, such as household appliances, clothes and footwear.

The "standard" service will be launched in the city of Mumbai on August 30 and is aimed at a small