Tesla Motors Inc changed its name to Tesla Inc

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Tesla Motors Inc changed its name to “Tesla Inc” as Chief Executive Elon Musk looks to transform the Silicon Valley firm from an electric car maker to a diversified energy products company.

In October, Musk unveiled solar-powered roof tiles that eliminate the need for traditional panels and a longer-lasting home battery illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity Corp, reports Reuters.

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Tesla Chief Executive, Elon Musk enters the lobby of Trump Tower in Manhattan, New York

Tesla won approval in November from its shareholders to acquire SolarCity, for a stock swap deal worth about $2 billion, in which Musk was the largest shareholder. The new name is effective Feb 1, Tesla said in a filing on Wednesday.

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