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Baillie Gifford willing to invest more in Tesla - The Times

October 29, 2018 at 06:44 am EDT

(Reuters) - Baillie Gifford & Co, one of the top shareholders of Tesla Inc, has said it would be willing to inject more cash into the electric carmaker, the Times reported http://bit.ly/2PwSpuu on Monday.

"If he (Tesla CEO Elon Musk) needs more capital we would be willing to back him," the Times quoted Nick Thomas, a partner at Edinburgh-based Baillie Gifford, as saying.

Baillie Gifford is Tesla's third-largest shareholder with a 7.72 percent stake. Elon Musk tops the list with about 20 percent ownership of the electric carmaker followed by T.Rowe Price Associates Inc, which owns about 10 percent, according to Refinitiv data.

The backing from Baillie Gifford comes days after Tesla reported a net profit of $311.5 million in the third quarter.

A spokesman for Baillie Gifford declined to comment on the report, while Tesla did not immediately respond to a request for comment.

(Reporting by Philip George in Bengaluru; Editing by Gopakumar Warrier)

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Elon Musk

Mr. Elon R. Musk is a Chief Executive Officer at The Boring Co., a Technoking of Tesla at Tesla, Inc., a Chief Executive Officer & Director at Space Exploration Technologies Corp., a Chief Executive & Technology Officer at Spacex SA and a Co-Chairman at OpenAir, Inc. He is on the Board of Directors at Tesla, Inc., Space Exploration Technologies Corp., Endeavor Group Holdings, Inc. and Musk Foundation. Mr. Musk was previously employed as a Trustee by California Institute of Technology, a Chairman by SolarCity Corp., a Chairman & Chief Executive Officer by PayPal, Inc., a Founder by Zip2 Corp., a Co-Founder by Neuralink Corp., a Co-Founder by OpenAI, Inc., a Non-Executive Director by Surrey Satellite Technology Ltd., and a Trustee by X PRIZE Foundation. He also served on the board at Everdream Corp. He received his undergraduate degree from the University of Pennsylvania and an undergraduate degree from The Wharton School of the University of Pennsylvania.

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Space Exploration Technologies Corp. Space Exploration Technologies Corp. Aerospace & DefenseElectronic Technology Space Exploration Technologies Corp. designs, manufactures and launches rockets and spacecrafts. It develops the partially reusable launch vehicles Falcon 1 and Falcon 9. The company was founded by Elon Reeve Musk in 2002 and is headquartered in Hawthorne, CA.	Founder