Elon Musk Nearly Sold Tesla to Google to Save the Automaker

Tesla could have become a Google-owned entity were it not for the former's fortuitous turn of profits, a new book claims.

Model S, Tesla's luxury electric sedan that debuted in 2012 was bogged by several issues that did not help sales. A shake-up in the organization and frenzied sales promotion however helped turn things around for the automaker just when a sale-out was being discussed with Google.

The book Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Bloomberg reporter Ashlee Vance, is set to reveal how Musk reached out to his friend and Google CEO Larry Page to discuss a sale. According to Bloomberg, Musk proposed that $ 6 billion sale price and demanded another $ 5 billion in investment to get the company running. Additionally he sought assurances from Google to not shutdown the company and that he should be allowed to run it for eight years or until it produces a third-generation electric car. Page reportedly agreed to the proposal.

When terms were being negotiated, Tesla's sales began to look up and the company's Model S sales ensure it posted a healthy profit that quarter. Its share price had doubled and the company managed survival.