Hauling Industry News
Tesla buys portion of auto-hauling fleet for $13.8M in stock
Electric vehicle maker Tesla on Monday notified shareholders and the Securities and Exchange Commission that, in exchange for nearly 50,000 shares of Tesla stock, the company has acquired portions of Central Valley Auto Transport’s car-hauling fleet.
Central Valley, based in Strathmore, Calif., operates a fleet of 95 trucks, according to public information within the Federal Motor Carrier Safety Administration’s Safety Measurement System program. Tesla’s notice to the SEC did not specify how many trucks, trailers or drivers it has acquired from Central Valley, only noting that Tesla had purchased “certain car-hauling trucks and trailers.” Story by Overdrive Staff / www.overdriveonline.com.