Restaurant business

Elon Musk’s plan for Tesla’s restaurant business is getting closer

Electric cars, space exploration and now burgers. Elon Musk’s latest venture is a bit more down to earth than we’ve come to expect from the billionaire entrepreneur.

The Tesla founder expressed his plans on Twitter in 2018 for an “old-fashioned drive-in, roller skates and a rock restaurant at one of the new Tesla Supercharger locations in Los Angeles.”

Now the idea is a little closer to reality after Tesla submitted documents to the City of Los Angeles for a restaurant that would be open 24 hours a day at 7001 West Santa Monica Boulevard in Hollywood.

The 864 square meter space includes plans for a drive-in theater and a 28-seat supercharger station, Bloomberg reported.

There will be a two-story restaurant with over 200 seats, indoors and outdoors, with views of two large cinema screens.

Last June, Tesla filed for three new trademarks with the U.S. Patent and Trademark Office, seeking to use its T logo and two other versions of the stylized Tesla logo in the food industry.

These trademarks would cover “catering services, pop-up dining services, self-service dining services, take-out dining services,” Tesla said in the application.

The Tesla restaurant’s original location would have been in Santa Monica, although that supercharger location opened in February without any branded dining options.

Tesla has not commented further on the restaurant’s plans, although Mr Musk added weight to his plans in February when on Twitter he again mentioned a “futuristic restaurant/drive-in cinema” concept.

“And, of course, you can pay in Ðoge,” he said, referring to the open source peer-to-peer digital currency Dogecoin.

Tesla shares plunged 6.9% to $628.16 in New York on Tuesday due to production issues in China.

The shares rose 50% last year and closed at $1,145 on April 4, when Mr. Musk announced his 9.2% stake in Twitter.

Tesla’s stock has been in freefall ever since, falling to $620.57 at its lowest on Tuesday and wiping out nearly half of its market capitalization after hitting a record high in November.

Updated: May 25, 2022, 07:59

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