Tesla Motors CEO Says He Has No Interest in Selling Electric Carmaker

Tesla Motors Inc. (TSLA) Chief Executive Officer Elon Musk said he expects the maker of electric Roadster sports cars to remain independent and isn’t planning to sell his stake in the company.

“I don’t think it’s a good idea to plan to sell a company,” Musk said today in an interview with “Bloomberg West.” “I don’t personally have any interest in selling. I think there’s a lot of innovation we can bring to the car business.”

Tesla, named for inventor Nikola Tesla, has said it will likely continue to post losses for at least another year as it prepares to build and deliver Model S electric sedans starting in mid-2012. Speculation that the Palo Alto, California-based startup may eventually be acquired by a larger company has persisted this year.

The company reported a first-quarter net loss on May 4 that was narrower than analysts estimated as it boosted revenue from battery packs and development work with partners Daimler AG (DAI) and Toyota Motor Corp. (7203) Sales more than doubled to $49 million.

“With partners like that, it’s very feasible to stay independent for a long time,” said Musk, who owns about 27 percent of the company, according to Bloomberg data.

Tesla fell 10 cents to close at $26.72 at 5:20 p.m. New York time in Nasdaq Stock Market trading. The shares are little changed this year.

To contact the reporters on this story: Alan Ohnsman in Los Angeles at aohnsman@bloomberg.net; Emily Chang in San Francisco at echang68@bloomberg.net

To contact the editor responsible for this story: Kae Inoue at kinoue@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.