Don’t let the delay fool you – Tesla’s jump into insurance is still on after CEO Elon Musk told shareholders that an insurance product will be launched following the completion of an unspecified acquisition.
After announcing in April that Tesla planned to release its own insurance product, the automotive firm then revealed in May that the program will be launched through a relationship with State National Insurance Company, a subsidiary of Markel Corporation. Though this series of events has been met with some criticism – notably that of Warren Buffett – Tesla moving into the insurance space shouldn’t have surprised anyone, says one expert.
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