Small Indian Company Rockets 40% On Tie-Up With Tesla — But Not The One Run By Elon Musk
Portfolio Pulse from Utkarsh Roshan
Shares of Indian renewable energy company Urja Global surged over 40% after announcing a partnership with Tesla Power India Private Ltd, a Delaware-based battery manufacturer, not Elon Musk's Tesla Inc. The agreement is for manufacturing and supply of batteries under the TESLA POWER USA brand.
June 12, 2023 | 11:56 am
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NEUTRAL IMPACT
Tesla Inc. (TSLA) is not involved in the partnership between Urja Global and Tesla Power India Private Ltd, a separate battery manufacturer.
Although Tesla Inc. is mentioned in the article, it is not directly involved in the partnership between Urja Global and Tesla Power India Private Ltd. The partnership is with a separate battery manufacturer, not Elon Musk's Tesla Inc. Therefore, the impact on TSLA's stock price is expected to be neutral.
CONFIDENCE 90
IMPORTANCE 25
RELEVANCE 25