Baillie Gifford & Co open to investing more in Tesla

The general consensus among analysts is that Tesla will need more capital in the near future.

One of Tesla’s top shareholders, Baillie Gifford & Co, has stated, it is willing to invest more into the electric carmaker.

“If he (Tesla CEO Elon Musk) needs more capital we would be willing to back him,” said Nick Thomas, a partner at Edinburgh-based Baillie Gifford.

Incidentally, Baillie Gifford is Tesla’s third-biggest shareholder and has a stake of 7.72%.

According to Refinitiv data, Elon Musk is Tesla’s biggest shareholder with a stake of around 20%, followed by T.Rowe Price Associates Inc, which has a stake of around 10%.

This development comes in the wake of Tesla reporting a net profit of $311.5 million for its third quarter.

Neither Baillie Gifford nor Tesla responded to immediate requests for comments.

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