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Tesla Motors Inc (TSLA) is Moving Away from Motor Industry

Tesla Motors Inc (NASDAQ:TSLA)

Tesla Motors Inc  has changed the URL of its main site from “TeslaMotors.com” to “Tesla.com”, potentially signaling a major change at the company. The firm is still listed on the NASDAQ as Tesla Motors Inc, & building electric vehicles will continue to be the firm’s main source of revenue for the foreseeable future, however, the change in URL could indicate that the California EV giant is looking to be more than just a car manufacturer.

Tesla Motors Inc (TSLA) Factory Freemont, California

Tesla Motors Inc (TSLA)’s Website Change is Reminiscent of Apple’s

According to an article recently published on the IB Times, this change at Tesla Motors Inc  could be as significant as Apple Inc.  changing its name from Apple Computer to Apple Inc. The article read “This might not seem like a big deal, but it will likely become as significant as when Apple Computer became Apple Inc in 2007, on the same day the first iPhone was revealed. Apple saw its future as far more than a computer company, and now its other products like the iPhone and iPad make substantially more money for the company than its computers ever did. The same could well become true of Tesla, as the firm becomes a technology and electricity company, not just an electric carmaker.”

Will Tesla Motors Inc Enter New Markets Now

If Tesla does choose to enter new markets, it is highly likely that they will be part of the tech sector, most likely, “Clean Tech.” Their new Model 3 EV was unveiled on the 31/03/2016, with initial deliveries planned for late 2017. For the next few years, the business needs to focus on meeting production & delivery deadlines, consolidating their position in the electric vehicles market, before entering other ones.

As the NASDAQ closed on the 18/07/2016, Tesla Motors Inc’s  stock was up by 2.65%, trading at $226.25 per share. The company’s market capitalization currently stands at $32.84 billion, a long way off Elon Musk’s target of $700 billion by 2025.

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