Elon Musk attack entrepreneur shocked the Auto industry by purchasing General Motors
the country's largest car maker could this be a hostile takeover what does this mean for
Tesla Elon musk's electric vehicle company and the automotive industry as a whole the
main question is why General Motors join me in this today's video as we examine how Elon Musk
recently acquired General Motors hello everyone welcome back to Elon Musk Evolution where we bring
you the most recent news about Elon Musk and his multi-billion dollar companies space news and the
latest science and technology but before we begin make sure you subscribe to our Channel and click
the Bell icon so you don't miss any of our amazing videos Elon Musk has all the funds at his disposal
to make any purchases he desires Elon Musk a tech billionaire has been on a spending frenzy
over the past few months and that's something noteworthy and he has no intention of stopping
when he announced his attempt to take over Twitter privately in April 2022 he took the social media
World by storm in October 2022 Elon Musk being Elon Musk concluded the agreement to purchase the
micro blocking service for 44 billion dollars or roughly 54.20 cents per share with more than 120
million followers Elon Musk is the new owner of Twitter and is second only to the 44th President
of the United States Barack Hussein Obama in terms of followers musk is primarily recognized for EVS
through his Tesla company even if he occasionally Trends on Twitter unmatched in his passion for
electric cars musk wants to raise the bar by acquiring General Motors which is headquartered in
Detroit given the long-standing hostility between Tesla and General Motors it is merely unexpected
GM had previously stated that it would compete with Tesla for market share Tesla has cemented
its position as the leader of the EV Market over time and as a result GM suffered a severe setback
whether you like it or not Elon Musk has now acquired GM following the collapse of the American
multinational conglomerate although musk only recently acquired GM it's awful to think that in
2010 when Tesla purchased the Fremont Factory in California he had already begun buying up some of
the company's facilities the Tesla Fremont Factory is an automobile production facility run by Tesla
Inc in Fremont California in 1962 General Motors Fremont assembly began using the factory which
was eventually run by the GM Toyota joint venture new me Tesla has been expanding at a starting rate
during the last five years the last two factories for the austin-based EV manufacturer were
inaugurated in Shanghai and Berlin however Tesla is a long way from meeting the demand for EVS
as a result Elon Musk is focused on growing and adding to his Factory network but hold on GM has
made considerable investments in the construction of factories and production facilities over the
course of its more than 100 Year history musk will have restricted access to every manufacturing
facility that the detroit-based manufacturer formally controlled after purchasing GM if the
GM staff members suffer the same fate as their Twitter co-workers did after Elon Musk acquired
the American microblogging platform is still up in the air as you might anticipate when Elon
Musk purchases a failing business he immediately implements some significant modifications Elon
Musk dismiss the entire board of directors and between 50 and 75 percent of the staff at Twitter
along with CEO parag agrawal and three other senior Executives the same events will undoubtedly
occur in GM simply put this indicates that Elon Musk the founder and CEO of Tesla will fire Mary
Berra as CEO of GM sooner rather than later musk has a grudge against the GM board because
the company ceased running advertisements on Twitter after musk acquired the social media site
we are interacting with Twitter to understand the platform will take Under New Management according
to the communication that was delivered via emails due to the huge change in the media platform we
have temporarily suspended our paid advertising however customer service interactions on Twitter
will still be available more than 70 percent of the GM Workforce may be let go as a result
of musk's efforts to reduce costs at the company it goes without saying that employment losses are
bad for the economy but this is only one side of the story musk's reform initiatives are aimed at
turning GM into a huge success the methods musk is using at GM have been tried and proven the
methods employed by Tesla are the same ones that are effective following Elon musk's acquisition
of GM many commentators contend that the race toward a more sustainable future is currently
in high gear millions of EVS are anticipated to be produced annually by GM and Tesla this
is consistent with Elon musk's objective of having just electric vehicles on the road before reaching
this Milestone it will likely be roughly 25 years from now musk has offered to acquire GM for 65
billion dollars which is a manageable amount for a man with more than 200 billion dollars some have
claimed that musk's acquisition of Twitter was an attempt at a hostile takeover it is
now obvious nevertheless that it is not a hostile acquisition following significant analysis if you
are unfamiliar with the term hostile takeover it describes a situation in which a firm or activist
shareholder attempts to take over a Target Company by bypassing the management and board of directors
and going straight to the company shareholders musk is the richest person in the world but he
does not have 65 billion dollars in cash on hand instead the majority of his wealth is invested in
assets mostly shares of his Tesla SpaceX twitter neuralink boring business and hyperloop companies
are involved here in order to pay for the GM acquisition the tech billionaire is probably going
to sell some of his 14 share in Tesla major Banks like Morgan Stanley and Bank of America will also
contribute to musk's funding the purchase of GM by Elon Musk today brings back memories of when he
and his four other partners founded Tesla Motors Martin Eberhard an engineer had the idea for Tesla
from the beginning and invited Mark tarpenning to join the board in 2003 the two Engineers are
regarded as Tesla motor's true founders the third employee Ian Wright joined the company a few
months later the three of them began looking for Venture Capital funding in January 2004 and made
contact with Elon Musk who contributed 6.5 million of the initial 7.5 million round of investments in
February 2004 and was elected chairman of the board of directors as the fifth member of the
Tesla team J.B Strobel was hired at the exact same time that musk was actively involved in supporting
the company's establishment 20 years prior furthermore he participates in GM's financing
the detroit-based corporation is still operating after musk's takeover of GM but then something
fresh started it will soon have a new owner and be managed by a new team Elon Musk has the potential
to turn GM into a huge success according to many Tech sector observers due to his work
with Tesla musk was able to keep the company from going bankrupt in both 2009 and 2017. it
is difficult to comprehend today how he expanded the business to achieve significant success Tesla
made history in October 2021 when it became the first automaker to have a market valuation of one
trillion dollars it's a significant achievement that musk was persuaded to purchase GM since the
corporation supports his aim of encouraging the use of green energy by 2040 General Motors wants
to have carbon neutral operations and products and by 2035 it wants all new light duty vehicles
to have zero tailpipe emissions in addition the corporation aims to Source 100 renewable energy
internationally by 2035 and in the US by 2025. the CEO and founder of Tesla promotes the generation
and use of sustainable energy there is little doubt that the Mad alliance between Elon musk's
Tesla and General Motors will revolutionize the automobile sector you can expect a change in the
situation after musk takes over a number of top automakers including Volkswagen of Germany Toyota
of Japan and Hyundai of South Korea have good reason to be concerned about the U.S market for
the purpose of boosting output at the GM factories musk will have competition from the well-known
Ford Motors in his Tesla gigafactories musk is planning to use some of the most cutting-edge
Technologies again he will set up idra gigapress equipment which is great for producing the
undercarriage of automobiles additionally the GM Factory will be equipped with a number of robots
that will Aid in manufacturing it's astonishing that Elon Musk will be taking over as CEO of
General Motors after Mary Barrow was fired simply put it is unclear how musk is able to serve as CEO
of so many Innovative companies at once the man is not just gifted but he is also diligent and
Resolute he will now serve as the CEO of General Motors Tesla Twitter and SpaceX and you can bet
he will have enough time to Faithfully do his obligations in each of those firms do you want
to know how if so this is the perfect answer the multi-talented CEO has more time each week than
most of us because believe it or not he works more than 120 hours per week or almost 18 hours a day
Elon musk's decision to acquire GM has garnered support from a number of financial professionals
and investors it will be less expensive for GM to operate its existing manufacturing facilities than
to build new ones from scratch because the company has many in the U.S and abroad but given that GM
has established a solid reputation over time musk won't waste money or time advertising the company
musk's purchase of GM is a clear indication that his priorities are not merely financial gain but
also improving human existence in most cases musk would have desired his rival's demise if it were a
typical commercial setting Elon Musk has said he doesn't really care who sells the most electric
vehicles as long as the objective of having all vehicles on the road be electric is accomplished
meanwhile after the billionaire sponsored a poll on his future Twitter users decided that Elon Musk
should stand down as the platform CEO musk polled is 122 million followers on whether he should step
down and 57.5 percent of them said yes since the voting ended mosque has not yet commented
he would continue to be the owner of Twitter even if he were to step down as CEO on Monday
more than 17.5 million individuals participated in his poll with 42.5 percent of them rejecting his
resignation musk has in the past complied with Twitter surveys he frequently uses the Latin
proverb vox populi Vox di which roughly translates to the voice of the people is the voice of God
the European Union and the United Nations denounced Elon Musk on Friday for Twitter's
decision to suspend some journalists who cover the social media company while the EU threatened
Twitter with sanctions the U.N declared that media freedom is not a toy As the adage goes be careful
what you wish for as you might get it musk tweeted after launching the vote later he said those who
crave power are the ones who deserve it the least do you believe Elon Musk has the skills necessary
to address the issues at General Motors and do you think Elon Musk will step down as the CEO of
Twitter please feel free to comment below with your thoughts thank you for watching and don't
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