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Tesla has increased holding by USD 100 million, says CEO Elon Musk

Tesla has increased holding by USD 100 million, says CEO Elon Musk
The body of a Tesla Model S is transported by an automated crane at the Tesla factory in Fremont, California October 1, 2011. Tesla is hanging much of its future on the Model S, its first sedan, which it hopes to start delivering to customers next year. Its executives believe its production will help the company move into the black after years of losses. REUTERS/Stephen Lam (UNITED STATES - Tags: BUSINESS TRANSPORT SCIENCE TECHNOLOGY)

New Delhi: American automotive and energy storage company Tesla’s CEO and co-founder Elon Musk has said that the firm exercised 532,000 options, which increased his holding by about USD 100 million in terms of market value.

According to an SEC filing, the options were exercised at USD 6.63 a piece, which would have produced USD 98 million for Musk had he sold the shares, which are currently trading at USD 191 per share, the Verge reported.

Tesla Motors designs, manufactures, and sells luxury electric cars, electric vehicle powertrain components, and battery products. Tesla Motors is a public company that trades on the NASDAQ stock exchange under the symbol TSLA. In the first quarter of 2013, Tesla posted profits for the first time in its history.(ANI)