Tesla Just Dropped ‘Motors’ From Its Name — Is Musk Looking To Build Something More?

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'Tesla Motors Inc' has changed the name to 'Tesla Inc' as Elon Musk, the company's Chief Executive is looking to transform the company to a diversified energy products firm.

Musk, in October revealed solar powered roof tiles that eliminate traditional panels and a longer-lasting home battery illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity Corp.

Tesla won the approval from its shareholders in November to to acquire SolarCity for a deal worth $2 billion. Musk was the largest shareholder in this deal.

The company's new name, Tesla Inc is effective February 1, 2017. Tesla sure makes good electric cars, but other manufacturers are catching up, like Mercedes-Benz with the electric Generation EQ Concept.

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