Tesla Could Be Willing To Sacrifice Its Name To Prove Its Serious About Energy Storage
According to some speculative media reports, Tesla could be mulling changing its corporate name to reflect a larger business scope spanning its energy storage ventures as well as electric vehicles business
Published By: Eunice Gettys on February 23, 2016 10:46 am EST
Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk may have just made a major move to prove the company is serious about the recently formed ‘Tesla Energy’ unit. On Saturday, Mr. Musk confirmed media reports claiming Tesla has bought the domain ‘Tesla.com’.
Referring to Stu G – an engineer and a Nikola Tesla fan – who had the possession of the domain since 1992 according to Bloomberg, Mr. Musk in a Twitter message on Saturday said, “Just wanted to thank Stu G for tesla.com,” touching on the humorous side he is well known for, he added, “Know it meant a lot to you. Will take good care.”
As is usual with every noticeable move that Elon Musk takes, media speculations are running wild as to why Tesla would suddenly need a new domain.
According to a report from Motley Fool, the move may well suggest Tesla is mulling a corporate name change to reflect a broader scope of its business units spanning from its core electric vehicles business to the newly incepted energy storage business. The company’s current name, ‘Tesla Motors Inc’ is highly reminiscent of Tesla’s electric vehicles business only.
Motley Fool refers to the example of Tesla’s comparable tech neighbor in the Silicon Valley, Apple Inc (NASDAQ:AAPL). The Fool notes Apple dropped the word ‘Computer’ from its name back in January 2009, on the same day it launched the iPhone. That product has gone on to contribute the most in Apple’s success since.
In case of Tesla, Elon Musk has already touted the company’s energy storage business – still in its early stages – could one day trump the company’s core electric vehicles business.
When Elon Musk had first launched Tesla Energy last year, at the press question and answer session he had mentioned that if there were no domain name challenges the company would consider changing its name to reflect a broader scope of business.
Hence, it may well be possible, that the company’s next big move could be to change the official corporate name quite possibly to Tesla Inc.