Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk had a unique idea of naming the company's electric vehicles. Musk said during the company's annual shareholder meeting in Mountain View, California that he wanted to name the cars of the company to form the word S-E-X. But that plan is ruined, thanks to Ford Motor Company (NYSE:F). The current sedan in the market is Model S. The upcoming vehicle,an electric crossover, has been named Model X. All that Tesla needed to form that word was Model E.
Ford threatened to sue Tesla
Tesla Motors Inc (NASDAQ:TSLA) is working on a mass-market car that will have a relatively lower price tag of $35,000. The affordable car will have a range of 200 miles, and is expected to be announced in 2016. The mass market car was expected to be named Model E. But Ford Motor Company (NYSE:F) threatened to sue Tesla if it used the name Model E. Musk said, "They are killing S-E-X." Consequently, The San Francisco-based company withdrew the Model E trademark filing.
In fact, Tesla Motor Inc (NASDAQ:TSLA) had even trademarked the name "Model Y" so that its range of cars make the word S-E-X-Y. The visionary entrepreneur said things are quite dry in the trademark world, so nobody picked on these names. Anyway, Musk told shareholders Tuesday that the company has come up with another name to replace Model E that might "work pretty well."
Elon Musk to remain Tesla CEO for at least another 4-5 years
Elon Musk told shareholders that he will remain the chief executive of Tesla Motors Inc (NASDAQ:TSLA) for at least another 4-5 years. That is, he will lead the company until the mass market car hit the roads, and then decide whether to stick around as CEO of Tesla or step down. Musk said he feels overworked. He also serves as the chairman of SolarCity Corp and chief executive of SpaceEx.
Tesla Motors Inc (NASDAQ:TSLA) shares fell 0.56% to $203.79 at 12:24 PM EDT on Wednesday.