(ZH) Tesla Jumps After German Press Says Volkswagen Preparing Acquisition

(ZH) Elon Musk may have finally secured some of that precious financing he once claimed to have secured (roughly one year ago), though, according to a report in German business magazine Manager, things didn’t turn out quite like he had hoped.

Per the magazine, Tesla is getting ready for a takeover, perhaps by Volkswagen, as carmakers scramble to roll out rival electric cars.

Of course, given Musk’s track record, it’s important to take this news with a grain of salt – but Tesla shares are ripping higher in the premarket.