Tesla Jumps After Fan Filed Boat, Airplane Trademark On Firm’s Behalf
A Tesla (Nasdaq: TSLA) fan claimed to be behind an application to extend the automaker’s trademark for usage in boats and planes. Once approved, the electric vehicle maker may expand into areas such as electric motors “not for land vehicles,” according to a filing with the US Patent and Trademark Office on December 28.
The application also includes trademarks for permanent magnet motors, electric motors for toys, and linear motors.
The paperwork, which specifies Tesla as the trademark owner and is signed by Jerome Eady, was posted on the patent office’s website as “awaiting assignment to an examining attorney” as of this writing.
When reached by phone on Wednesday, Eady stated that he wanted to assist the company by completing the application as soon as CEO Elon Musk stated that the Cybertruck could be used as a boat. Eady stated that he has no ties to Tesla and that the submission was done without the company’s knowledge.
Over the last two years, Musk has hinted at many non-road vehicle uses that the company may pursue. When Teslarati first reported on the expansion of Gigafactory Texas last year, Musk explained that the goal was to begin construction on the ecological paradise that surrounded the land. Musk went on to discuss the possibility of creating an electric boat that guests might use to float down the Colorado River, which runs straight through Austin.
Furthermore, Musk has hinted that the next all-electric pickup, the Cybertruck, will be waterproof and capable of traversing the South Bay and Brazos Santiago Pass in Texas between Starbase and South Padre Island.
Numerous news agencies claimed that Tesla had submitted the application in an apparent step toward expanding into other product categories, which caused some uncertainty. Adding to the confusion, the trademark application listed patent attorney Anthony Lupo, the same lawyer that has been listed for Tesla’s past applications.
Prior to the recent application, the last trademark registrations Tesla made were for the use of the branding on book bags, school bags, and backpacks–listing the same patent lawyer.
The firm’s shares–already at a two-year low–jumped by 5% on the day following the news.
READ: Tesla: Lost A Twitter’s Worth In A Day, Dropped From US Top 10 Public Firms
Musk, in a recent companywide email, told his employees–some of whom are subscribed to the firm’s stock compensation program–not to “be too bothered by stock market craziness.”
“As we demonstrate continued excellent performance, the market will recognize that,” Musk added.
Back in April 2022, shares of Tesla also rose after a fake press release circulated claiming it had acquired Nevada-based miner Lithium Corp.
The electric vehicle maker has seen a challenging 2022, dominatated by a significant decline in its valuation as the firm currently trades at a two-year low.
Information for this briefing was found via Bloomberg, Teslarati, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
