Kimbal Musk Cashes In On The Booming Stock Of Tesla Inc (NASDAQ:TSLA) By Selling 30,000 Shares
Kimbal Musk, the younger brother of Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA) and SpaceX, sold 30,000 shares each at above $850 and netted $25.6 million. It accounts for 5% of the stake held by Kimbal in Tesla.
The stock of Tesla has surged by almost 400% in the past year. According to FactSet, Kimbal holds 600,000 shares last October. He is the fifth-biggest stockholder in the company. Kimbal also sold a significant number of shares in September 2020.
Antonio Gracias sells 15,000 shares
Kimbal is a director on the board of electric automaker. Antonio Gracias, another director on the board of Tesla, also sold 15,000 shares after it entered S&P 500 in late 2020. However, the stock is sluggish in the past month after witnessing a dream run last year.
A peep into how a Tesla Van will look like
In an appearance on the podcast of Joe Rogan for the third time, Elon shared his view of how the new van looks like. The van will likely have a flat and big area for a solar to make sense. Its roof will have a solar panel besides providing a shade. According to Elon, the solar panel on the rooftop provides a charge sufficient to go for a daily ride of 30 miles. During a Q4 2020 earnings call on January 27, 2021, Elon said the EV maker will make an electric van shortly. The cell supplies and battery technology is not so advanced to make the EV van a reality soon.
A new plant in the Indian State of Karnataka
According to the latest reports in Mint, the EV maker is planning to establish a plant in the Indian state of Karnataka.
BS Yediyurappa, Chief Minister of Karnataka, said Tesla, the American auto company, will establish an EV manufacturing unit in Karnataka. Tesla registered TML (Tesla Motors India and Energy Private Limited) on January 8, 2021, in Karnataka. Its registered office will be located in Bengaluru.
Elon could offer Tesla Model 3 initially at $40,960 in India. It gives a boost to the Indian auto sector because the nation looks for alternatives to vehicles that run on petrol and diesel.