Tesla Inc will remain public, board believes private path not a better option

Six members of Tesla's board of directors said in a brief statement issued on Friday that the board had held a meeting on Thursday.

The board of Tesla Inc said on Friday the company would remain public, following a tumultuous two weeks for the carmaker after its chief executive announced he was considering a deal to go private.

Six members of Tesla's board of directors said in a brief statement issued on Friday that the board had held a meeting on Thursday, in which CEO Elon Musk reported on the effort to take the electric vehicle company private.

"...After having done this work and considered all factors, he believes the better path is to no longer pursue a transaction for taking Tesla private," the board members wrote.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)