In a shock to both Wall St. and fans of its popular electric cars, Tesla Motors has acquired the RadioShack brand. Tesla CEO Elon Musk called the move a “nod to nostalgia” and said he liked the fact that the acquisition cost him only $20 million.
“I think a lot of people cried when RadioShack went under,” said the charismatic CEO who inspired the Marvel Comics character Tony Stark. “As a kid, I was at RadioShack all the time, purchasing parts for engineering projects,” said Musk. “I’m embarrassed to say that I was always a sucker for their battery pitch, buying double As left and right. I couldn’t help but think: Surely we can do better. I knew I had to build a better battery.”
Musk criticized the charge capacity of the old batteries of his childhood as being weak. “Even after alkalines emerged, they were still junk and ended up in a landfill after only about 30 minutes of powering my cool RC helicopter,” he told reporters at Wednesday’s press conference at Tesla headquarters in Fremont, California.
Musk says he plans to leverage RadioShack’s reputation for selling anything and everything that runs on batteries. “I’m also going to add a buttload of drones to the catalog,” he said. “I think the stores will be perfect for selling our electric scooter, which will be released in 2027. Ooops.”
Some analysts are praising the move on the part of Tesla, citing how the company’s new Gigafactory outside of Reno will be able to provide better, cheaper batteries for American consumers. “Just think, you’re a household name and every damn thing you sell in the store requires a battery. He’s a friggin’ genius,” said Baird analyst Ben Call, adding, “I’m inviting Musk to my son’s birthday party, even though I know he probably won’t come.”
Tesla stock shot up 47 percent in early morning trading.
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