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General Motors Company Message Board

  • no_slappz no_slappz Mar 21, 2012 1:01 PM Flag

    Tesla to acquire Volt operations

    According to sources at GM, Tesla will acquire Chevrolet's Volt operations. The transaction, valued at $3.5 billion, is to be financed with a loan from the US Department of Energy. The DOE is extending a financing package comprising grants, loans and tax credits. Elon Musk, founder of Tesla, was not available for comment.

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    • box, do you really enjoy being an idiot? I think you might be one of jeye's family members. Ooops I shouldn't use the "members" I've read you like to kiss them. sic sic sic

    • wngr123,

      Both GM and Tesla have released statements denying the rumor of the Volt's sale to Tesla.

      Interestingly, both press releases contain identical wording.

    • <<As for the source, like I said -- Wikileaks. You can find it, I'm sure.>>

      See, that's the problem. I can't find anything, anywhere about Tesla acquiring/mergering/dreaming about the Volt. The only information I can find has the opposite scenario, i.e., Tesla being acquired.

      So, the conclusion I have drawn is that you are just another internet fly by artist who imagines this stuff, with no basis in fact, and decides to write it down as the truth. You have zero credibility with me, the rest will have to judge for themselves.

      So, my best recommendation for you is to go change the tin foil in your beanie. In the absence of any substantiating data, your opinions no longer have any meaning for me.

    • Is this your Wikileaks story

      These are the questions bandied about in a special report from Reuters, targeted specifically in the direction of BYD, the Chinese automaker that has been buoyed by major investments and backed by Warren Buffett. The big draw for Buffett and his money was BYD's proprietary battery technology, which it uses on its own plug-in vehicles, some of which are supposedly coming to America.

      Reuters, citing documents it received by a third party from WikiLeaks, is charging that BYD's battery tech may not be all its cracked up to be, and that sales of its EVs are painfully slow. Further, officials such as Guanzhou Consul-General Brian Goldbeck reportedly said two years ago that BYD's vehicles may pass China's lax copyright laws, but aren't likely to do so in other countries.

    • wngr123,

      Obviously you have no understanding of merger accounting.

      It provides an amazing demonstration of accounting legerdemain.

      Tesla accepts the good parts and GM buries the bad parts when it accounts for the non-recurring events tied to the disposal of the unit.

      As for the source, like I said -- Wikileaks. You can find it, I'm sure.

    • You are so wrong on so many levels. Here's an example:

      <<Yes, Tesla's balance sheet looks rather fragile. But when the assets of the Volt are added to Tesla's balance sheet, the combined companies will look as solid as Apple -- for a while.>>

      So, you think a imaginary set of financial statements for the Volt are so positive that it would offset the mess that is Tesla. Did I get that right? Even GM will admit that the Volt only has future financial promise...if any. But that's not what I'm interested in.

      I only want one thing from you, a link to your source of investment information, Wikileaks. Hard not to laugh when you say that sentence.

    • wngr123,

      Seems you've misread the tea leaves.

      When it comes to off-loading losers, the government is a great source. And due to that fact, if you want to acquire a loser AND turn it into a winning proposition, all you have to do is get the government to pay you for taking the loser off its hands. Such is the case with the Chevy Volt, produced by GM, a company whose leading board member is the president.

      Tesla's assumption of Volt operations comes with a boat-load of benefits for Tesla as well as some less recognized benefits for GM. Not the least of those benefits is no longer having to answer the Volt sales question every month for the automotive press.

      Second, it ends the question of when GM will move Volt operations to China. And it ends the speculation of when the Volt division will attain operating profitability. GM would rather not lie or obfuscate. The deal is a win-win for Tesla and GM, but a loser for US taxpayers. Hey, there's no free lunch.

      Yes, Tesla's balance sheet looks rather fragile. But when the assets of the Volt are added to Tesla's balance sheet, the combined companies will look as solid as Apple -- for a while. Long enough for Obama to make a clean getaway.

    • <<<I would have thought accuracy and credibility within the message board community, should have some value.>>>

      You're joking, right?

      The "message board community"? A collection of anonymous people with absolutely NO accountability for what anyone writes? I'm sure the first thing people do here is background checks to establish the "credibility" of posters with made up names.

      If things get too ugly you can just create a new name and start over again. As far as your having any cash at risk over your "gutsy" call, well you're just being silly.

    • Why Electric Carmaker Tesla Motors Will Likely Be Acquired
      J. Tyler Matuella and Mannie Ajayi
      March 28, 2011

      I'm thinking that Tesla has its own problems without adding the Volt to them.

    • "I too believe in accuracy and credibility on any message board, but thus far I have not seen anything to substantiate the initial post that Tesla was purchasing Volt from GM. Let's see a LINK where we can all read about it and draw our own conclusions. The same as saying, Sources in Washington,DC say that Obama is going to announce that he is pulling out of the 2012 election in favor of Joe Biden."
      I don't know if it is true or not. I too would like to see and read a confirmation or a denial of it. My responses are hypothetical based on this happening. I am not the one who suggested it was.
      If it did, I stand by my commentary.

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