Tesla to remain public, board says, after meeting with Musk

Tesla will continue to focus on building products such as the Model 3 which Musk intends to ramp up and make profitable, as per ANI.

Update: 2018-08-26 02:43 GMT
The crash renews questions about the driver-assistance system's ability to detect hazards and has sparked concerns about the safety of systems that can perform driving tasks for extended stretches of time with little or no human intervention, but which cannot completely replace human drivers.

The board of Tesla said on Friday the company would remain public, following a tumultuous two weeks for the carmaker after its chief executive announced he was considering a deal to go private.

Six members of Tesla’s board of directors said in a brief statement issued on Friday that the board had held a meeting on Thursday, in which CEO Elon Musk reported on the effort to take the electric vehicle company private.

“...After having done this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private,” the board members wrote. (Reporting By Alexandria Sage; Editing by Sam Holmes)

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