Home News Tesla completing ‘small acquisition’ which will help launch its insurance product

Tesla completing ‘small acquisition’ which will help launch its insurance product

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Tesla CEO Elon Musk claims that the business is in the process of completing a “little purchase ” to allow it to release its insurance product, something it said in April it was just around “per month” from bringing to advertise . One month is at least two weeks when interpreted from Musk-time into rest-of-us time, and so that monitors.

Musk made the remark at Tesla’s Annual Shareholder Meeting, adding that the provider is “fairly close to having the ability to launch [its insurance product],” and this in addition to the acquisition in advance, Tesla also has “a bit of software to compose ” to ensure it is ready for market.

Insurance for Tesla vehicles might be costly when obtained from traditional insurance companies (it ranked 15th greatest in the U.S. in a current third party poll ), but Tesla claims it has a key benefit compared to third-parties that will allow it to cost insurance for its clients correctly — detailed and comprehensive info regarding their driving habits.

No word yet on who the acquisition target is, but it makes sense that Apple might try to get a little insurance company to supplement its driving and consumer data, rather than trying to construct an insurance business in-house from scratch.

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