There is good news for Tesla Inc as it’s one of the top shareholders, Baillie Gifford & Co, has agreed to make more investments for the electric car maker. Nick Thomas, Edinburgh- based Baillie Gifford’s partner, said,
If he (Tesla CEO Elon Musk) needs more capital we would be willing to back him.
Baillie Gifford has a share of 7.72% in Tesla Inc and it is the third largest shareholder of Tesla Inc. Elon Musk has the highest share of around 20% and T. Rowe Price Associates Inc is at the third position owning around 10% of shares.
A net profit of $311.5 million was reported by Tesla in its third quarter. As a consequence, Baillie Gifford planned to back up Tesla’s electric car maker project.
Tesla and Baillie Gifford have not made any comments about this news yet. While Baillie Gifford refused to make any comments, Tesla hasn’t responded to the request for comments yet.
Source: Investalist, Reuters
