Tesla has officially filed to trademark Elon Musk's 'Teslaquila'

Tesla has officially filed to trademark Elon Musk's 'Teslaquila'

Lindsey Duncan
October 17, 2018

Until now, Tesla has operated as a niche producer of luxury electric vehicles, with a charismatic, showman CEO who regularly interacts with fans on his Twitter account.

Tesla confirmed the settlement by declined to comment further.

Musk said the base version of the Model 3 will being production in early 2019. Tesla and Musk agreed to pay a total of $40 million in fines in the settlement Tuesday, Oct. 16. The tweet claimed "funding secured" as Musk floated the idea of taking the Silicon Valley automaker private at $420 per share. Terms of the settlement include Musk resigning from his chairman role, Tesla to add independent directors to its board, and each Tesla and Musk paying a $20 million fine.

Neither Musk nor Tesla admitted or denied wrongdoing as part of the settlement.

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While there's little else in the way of official information about the Tesla-themed tequila, CNBC points out that the company filed an "intent to use" trademark for the name, which means they have "good faith intention" of using it in the future.

The day after the tweet, Tesla's shares fell 7 percent when billionaire investor David Einhorn's Greenlight Capital hedge fund criticized the electric carmaker, saying Musk had been deceptive and the carmaker's woes resembled those of Lehman Brothers before its collapse. Shortly after, Musk tweeted a "visual approximation" of the alcohol, branded with the Tesla's logo and in its signature typeface.

Tesla founder Elon Musk has refuted a report that James Murdoch, son of News Corp. owner Rupert Murdoch, may replace him as Tesla Inc. chairman in a short tweet. Murdoch, who joined Tesla's board as independent director a year ago, has experience in working with media companies but none in leading a company that makes electric vehicles.