Tesla Motors, Inc. (NASDAQ: TSLA) officially changed its name to Tesla Inc in a Securities and Exchange Commission filing on Wednesday. The new name is effective on February 1, and the company has already changed the name to its website address.
The company said that changing name will better reflect its operation and ambitions, as in recent years, the Chief Executive Elon Musk aims to transform Tesla from an electric car maker to a diversified energy products firm. Steps including launching batteries products for electric vehicles and home-energy stores, ride-sharing, and the acquisition of SolarCity. Tesla listed itself as “not just an automaker, but also a technology and design company with a focus on energy innovation” on the official website.
In November, the company won approval of shareholders for the acquisition of SolarCity, which was in a stock swap of around $2 billion. In the deal, Musk was the largest shareholder. In addition, the company introduced the second-generation Powerwall battery storage device for home, and its Powerpack 2.0 commercial solar energy storage solution in 2016.
In addition to all these actions, the company also planned to create solar roof panels, which will look like ordinary roof tiles, later this year.
Tesla is not the only company that changed its name. Apple Computer changed its name to Apple Inc. ten years ago, which was several days before releasing the first iPhone.