Tesla Motors changes its name as it looks to diversify business model

Tesla Motors changes its name as it looks to diversify business model

Tesla is dropping the 'Motors' part of its name in a bid to simplify its official title and move towards the one-word brand that has slipped into the popular lexion.

The company will be known as Tesla Inc effective today (Wednesday 1 February) according to a filing issued in Washington DC.

It appears the tech giant is also keen to move away from being known as a smart motor company as it continues to diversity its output.

The Elon Musk-owned firm recently purchased solar company SolarCity in an all stock deal with $2bn. Musk, who sits on President Trump's advisory council, has never been shy about his interest sustainability, saying in his first Tesla blog post in back in 2006 that his goal with the firm was to transition the world from a "mine-and-burn hydrocarbon economy towards a solar electric economy."

In July last year, Musk again laid out his ambitions for the firm, saying: "We must at some point achieve a sustainable energy economy or we will run out of fossil fuels to burn and civilization will collapse.

"Given that we must get off fossil fuels anyway and that virtually all scientists agree that dramatically increasing atmospheric and oceanic carbon levels is insane, the faster we achieve sustainability, the better."

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