Musk tells SolarCity trial that Tesla would 'die' if he wasn't CEO

Mandeep Sethi 13 Jul 2021 133

During a US trial over SolarCity's acquisition, billionaire Elon Musk said he tried "very hard not to be the CEO of Tesla, but I have to or frankly Tesla is going to die"...

WILMINGTON, Del., July 12 (Reuters) - Elon Musk insisted in court that Tesla Inc's(TSLA.O)board controls the company but also said the electric vehicle maker would "die" if he wasn't the chief executive, as he ended his first day of testimony on Monday in defense of Tesla's 2016 acquisition of SolarCity.

The lawsuit by union pension funds and asset managers alleges the celebrity CEO strong-armed Tesla's board of directors into depleting the company’s assets with the $2.6 billion all-stock deal for SolarCity.

read more at Reuters

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